- Warren Buffett refuted a fan-made video shared by President Trump on Truth Social, which falsely claimed Buffett endorsed Trump’s economic moves as the best in over 50 years and alleged a deliberate 20% stock market crash to lower rates.
- Buffett, speaking to CNBC’s Becky Quick, emphasized his intent to combat misinformation and stated he will avoid commenting on markets, the economy, or tariffs until Berkshire Hathaway’s annual meeting on May 3.
- The incident highlights the rapid spread of unverified claims on social media despite a lack of evidence supporting the alleged market strategy.
Warren Buffett, the renowned investor and chairman of Berkshire Hathaway (BRK-A, BRK-B), found himself at the center of a misinformation storm on Friday when President Donald Trump shared a fan-made video on Truth Social. The video claimed that Buffett had praised the president’s recent economic moves as the best he’d seen in over 50 years. It further alleged that Trump was intentionally crashing the stock market by 20% this month as a calculated strategy to pressure interest and mortgage rates downward. Buffett, speaking to CNBC’s Becky Quick, swiftly moved to debunk these assertions, emphasizing his commitment to countering false narratives that can spread rapidly in today’s digital landscape.
The video’s claims about Trump’s economic strategy lack substantiation, as no official data confirms a deliberate 20% market drop orchestrated by the president. Buffett, known for his measured approach to public statements, told Quick he has no intention of commenting on markets, the economy, or tariffs until Berkshire Hathaway’s annual meeting on May 3. His decision reflects a broader caution amid an environment where social media can amplify unverified claims, potentially influencing investor sentiment. Trump’s sharing of the video appears to align with his pattern of using platforms like Truth Social to shape narratives around his policy decisions.
Buffett’s denial carries weight given his stature as one of the most respected voices in finance, with a track record of navigating economic cycles through decades of market shifts. The false attribution in the video underscores the challenges of distinguishing credible information in an era of instant communication, a concern Buffett explicitly highlighted in his conversation with Quick. While the video’s narrator tied Trump’s supposed market tactics to lower rates, current economic indicators – such as persistent inflation pressures and Federal Reserve actions – suggest that any significant rate reductions remain speculative. Buffett’s silence on these topics until May 3 leaves room for ongoing debate, but his Friday statement serves as a firm rejection of the narrative Trump sought to amplify.
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