(Bloomberg) — Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said it would be “very tough” for the Federal Reserve to lift interest rates this year because of the stronger U.S. dollar.
“That would exacerbate the problem,” Buffett said in an interview on the Fox Business network. “I don’t think it’ll be very feasible to do. I think it would have a lot of international repercussions.”
U.S. economic growth, outperforming most industrialized counterparts, has helped push the nation’s currency higher than it’s been in more than a decade against currencies of six trade partners. That’s making it cheaper for Americans to buy imported goods and helping to lower inflation that’s already below the Fed’s goal, making it harder to boost rates.