Warren Buffett compliments Bernanke and Geithner

Billionaire Warren Buffett says the United States has a good team leading the Treasury Department and Federal Reserve as it fights what he's called an economic war. Berkshire Hathaway's chairman and chief executive says he can't see how the nation could do better than Ben Bernanke as Federal Reserve chairman. Buffett said during an interview on CNBC Wednesday that Bernanke took decisive action at a time when the nation's economy needed that. Buffett also complimented Treasury Secretary Timothy Geithner. Buffett says he is sure the actions the government has taken in the past year to help the economy will result in high inflation down the road. But he says the government's actions were appropriate. He says the economy has not yet had any bounce, and it will take some time to recover. Buffett conducted a couple of live television interviews Wednesday in New York. The interviews came before his lunch with a Chinese investment manager who bid $2.1 million in a charity auction to dine with the Oracle of Omaha. Buffett said during an interview on CNBC that all the reports he sees from Berkshire's businesses show that the economy has remained fairly flat. Buffett says there were a lot of economic excesses to be wrung out, and that process is still under way.