At This Stage of Economic Expansion, Is It Like 1996 or 1999

Rochester Business Journal
May 17, 2019
Mark Armbruster

In a recent interview with CNBC, famed investor Warren Buffett marveled at the current economic environment. He not­ed that unemployment is at multi-decade lows and the federal budget deficit is at an all-time high, yet inflation and interest rates are historically low. No economics textbook, in Buffett’s estimation, could have predicted such an environment.