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Warren Buffett: Inflation on the horizon

The Berkshire Hathaway chief says policymakers will have to raise money to pay off costly rescue plans - one way or another.

Colin Barr, senior writer

Last Updated: May 2, 2009: 1:32 PM ET

OMAHA, Neb. (Fortune) -- Berkshire Hathaway chief Warren Buffett defended the government's handling of the economic crisis, but warned that the purchasing power of the dollar may fall as policymakers stretch to finance expensive rescue plans.

Reflecting on the near implosion of the financial system last fall, Buffett said officials should be judged more leniently when facing "as close to a total meltdown as you can imagine."

But he warned that efforts such as the Treasury's $700 billion Troubled Asset Relief Program and the $787 billion fiscal stimulus plan passed this year by Congress will have to be paid for, one way or another. More

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