Warren Buffett warns about inflation amid ‘red hot’ recovery from pandemic

Legendary investor also warns about share-trading apps and investment Spacs while partner calls cryptocurrencies disgusting'

The billionaire investor Warren Buffett has warned of inflation hitting the US economy amid a red hot" recovery from the worst of the coronavirus pandemic.

Buffett said his portfolio companies were seeing very substantial inflation" in a range of sectors amid shortages of raw materials and high savings among those who kept jobs but were barred from spending on things such as holidays during lockdowns.