Buffett Sees No U.S. Recession Unless Europe Causes It

Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said he expects the U.S. economy to avoid another recession as long as Europe can contain its debt crisis.

There won’t be a recession “unless events in Europe develop in some way that spills over here big-time,” Buffett said yesterday at the Economic Club of Washington, D.C. He answered questions from David Rubenstein, co-chief executive officer of Carlyle Group LP, the world’s second-largest private equity firm.