In a live interview at 8a ET this morning on CNBC, Warren Buffett tells Becky Quick there's "not much need for more rate cuts."
He thinks the Federal Reserve should "quit now" on its series of interest rate reductions.
He is also critical of the Bush Administration's economic stimulus plan, saying "you can drop a lot of money on people" to help the economy in the short-term, but there will be economic consequences down the line. His advice to those getting checks: use the money to pay down credit card debts if you're paying a big interest rate.
Buffett says he would consider supporting John McCain for President over his current favorites, Hillary Clinton and Barack Obama, if McCain supported his call for higher taxes on the "super-rich."