Warren Buffett's Berkshire Hathaway revealed that consumers are cutting back - and a recession could be the result

• Warren Buffett's Berkshire Hathaway just signaled a slowdown in US consumer spending.
• Berkshire's latest earnings revealed slowdowns in many of its consumer-facing businesses.
• Rapid inflation and hikes to interest rates have fanned fears of an economic slowdown or recession.

Warren Buffett's Berkshire Hathaway just signaled that American consumers are feeling the squeeze, and an economic slump or even a recession may be looming.

The famed investor's company owns scores of businesses across dozens of industries including insurance, energy, railroads, real estate, construction, automotives, manufacturing, industrials, and retail. As result, it's widely seen as a microcosm of the wider US economy.