unemployment rate

Warren Buffet expressed an optimistic view of the US economic prospects and said that despite his "enormous respect" for the efforts of Federal Reserve Chairman Ben Bernanke to move the economy forward, more stimulus is not the answer now.

"In the end, I don't think we need more of that," Buffett said in an interview on CNBC television.

Meantime, he believes that with the improvement in the business world a decline in the unemployment rate should also come to the low 7 percent range by the November 2012 elections from 9 percent now.

According to San Francisco Federal Reserve Bank President Janet Yellen extraordinarily low interest rates introduced by the central bank are still necessary for the US economy as inflation remains "undesirably low" and growth will likely be sluggish for several years.

Addressing the audience at the University of San Diego's business school Yellen noted that the US economy will likely grow at a pace of 3.5% this year and 4.5% next year.

The U.S. economy is growing again but recovery will be moderated by a weak labor market and troubles in commercial real estate, Atlanta Federal Reserve Bank President Dennis Lockhart said.

  Speaking to the Rotary Club of Atlanta, Lockhart said inflation was not an immediate source of concern amid an expansion that would probably remain sluggish.

 According to a poll of 48 experts at the National Association for Business Economists the economic growth in the United States will be higher over the next year with the unemployment rate remaining at its worst level.

The NABE economists predicted that real growth in gross domestic product for 2010 would be 2.9% against previously forecast 2.6%.

"Real GDP growth should also be enough to recover losses from the recession and return output to an all-time high by the end of 2010," the business group said in a statement.