The Federal Reserve seems ready to increase interest rates for the first time in nine years, billionaire Warren Buffett said Monday. But he added it's "not an easy decision."
"It's very tough to push rates higher in the United States, when Europe needs to keep them low. And you got this situation existing around the world," he said in a wide-ranging interview on CNBC. "But I keep hearing the [Fed] governors saying it's going to happen soon."
"It may very well happen. But I don't think it's an easy decision when … you may be affecting exports and imports very significantly, if you push rates here to be considerably higher than in Europe," Buffett said in the "Squawk Box" interview.
As for the U.S. economy, the Berkshire Hathaway chairman and CEO said he expects more of the same that's been seen in the past five years, about 2 percent growth.
Talk of a double-dip recession or a rapid acceleration appear equally unlikely, he said: "I don't see [the economy] accelerating or decelerating."
Buffett, who looks to buy stocks or business for their long-term prospects, said recent weakness in the market does not concern him.
"Stocks are going to be higher, and perhaps a lot higher 10 years from now, 20 years from now," he said, adding that's why he does not try to time the market.
Using housing as an analogy, he said people won't sell their homes if property values dipped 5 percent in the hopes of buying their homes back cheaper.
Buffett also touched on a number of other issues, from his possible intentions concerning IBM stock and Mondelez as an acquisition prospect, to the 2016 presidential race, to Berkshire's big acquisition of an aircraft parts maker.
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