Americans are spending more of their growing wealth. The economy still needs companies to do the same.
Still lacking the confidence to spend at normal levels, businesses have stockpiled nearly $1.9 trillion in cash, a record, the government said Thursday. Cash now accounts for 13 percent of corporate assets, the highest share since 1984. Economists say the surest way to reduce unemployment would be for companies to spend more of that cash to expand and hire.
Still lacking the confidence to spend at normal levels, businesses have stockpiled nearly $1.9 trillion in cash, a record, the government said Thursday. Cash now accounts for 13 percent of corporate assets, the highest share since 1984. Economists say the surest way to reduce unemployment would be for companies to spend more of that cash to expand and hire.
