America's "Economic War" Will Be Prime Topic When Warren Buffett Appears Live on CNBC Today

Warren Buffett's latest assessment of the U.S. economy will be a prime topic of conversation later this morning when he appears live on CNBC television.

Buffett is scheduled to be interviewed by Squawk Box co-anchor Becky Quick at 11:45a ET on The Call, just before he hosts his charity lunch at New York's Smith & Wollensky steakhouse.

Fund manager Zhao Danyang will collect his prize after paying $2.1 million dollars for the meal in last year's auction. (Bidding is currently underway for the next 'Power Lunch' with Buffett. Last night the high bid topped $100,000. The auction ends Friday night.)

In early May, Buffett told Becky the U.S. economy is "very slow" and "getting slower" but continued to predict that it will eventually rebound over a period of several years.

He also said the country was past the "Pearl Harbor" conditions of last September, but warned "we're still at war."

As Becky points out now, "A lot's happened in the markets and the economy since we last spoke with Buffett on May 4. I'm looking forward to hearing if he thinks we've made any progress in the 'economic war' he told us we were in then."

FULL TRANSCRIPT AND VIDEO OF BUFFETT'S MAY 4 CNBC INTERVIEW

We can also expect Becky to ask Buffett about his latest views on the financial markets and his favorite financial stocks, notably Wells Fargo. As of March 31, Berkshire Hathaway reporting owning almost 303 million shares of the bank's stock. Wells Fargo has more than doubled since our last conversation with Buffett in early May but has mostly moved sideways in recent weeks.

Becky may also ask for his current assessment of the Obama administration's handling of the economic crisis and its plans for regulatory changes.

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