Famed investor Warren Buffett over the weekend said he is confident the US economy will bounce back from its pummeling by the coronavirus pandemic because "American magic has always prevailed." "We've faced great problems in the past, haven't faced this exact problem -- in fact we haven't really faced anything that quite resembles this problem," Buffett said in a lengthy speech on the country's economic history, at the annual meeting of Berkshire Hathaway Inc. "But we faced tougher problems, and the American miracles, American magic has always prevailed and it will do so again." Buffett, who turns 90 on August 30 is considered one of the world's savviest investors.