CNNMoney reports Berkshire Hathaway Chairman Warren Buffett, noting the sell-off in stocks recently when Federal Reserve meeting minutes indicated some members wanted to slow the buying of assets, says once the Federal Reserve actually starts selling the trillions in mortgages and Treasuries, the market reaction could be extreme. “All over the world everybody that manages money is waiting to catch the signal that the Fed is going to reverse course,” he says. “I think they’re on a hair trigger. There are an awful lot of people who want to get out of a lot of assets if the Fed is going to tighten. Who knows how it will play out.” While he criticizes gridlock in Congress over the budget, he does not think the sequestration cuts will throw the economy back into a recession. As MHProNews knows, Clayton Homes, the largest producer of manufactured housing in North America, is a subsidiary of Berkshire Hathaway.
