How Buffett’s number two feels about inflation

Denver He is known for his sharp tongue: Charlie Munger, deputy chairman of the board of directors of Warren Buffett’s conglomerate Berkshire Hathaway, was extremely concerned about rising prices in the USA during an appearance on Wednesday.

Inflation is “the biggest long-term threat we face behind nuclear war,” Munger said. He first spoke at the shareholders’ meeting of the Los Angeles publishing house Daily Journal, whose board of directors he chairs, and later on the US stock exchange network CNBC.

“Inflation is a very serious issue. You can argue that democracies can die as a result,” said the 98-year-old investor, who has been star investor Warren Buffett, 91,’s closest confidante for decades.

Recently, both consumer and producer prices in the USA had risen much more than expected, which increased the pressure on the US Federal Reserve again. Economists at Goldman Sachs and JP Morgan Chase now expect seven rate hikes this year.