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COVID in US – One-quarter of the of the country’s largest companies had more cash going out than coming in on the eve of the crisis

“The coronavirus has left businesses from giant corporations to the corner bar struggling for survival. But along with Washington Postdealing millions of Americans an unexpected blow, the pandemic exposed vulnerabilities that had accumulated during a record-long expansion and years of ultralow interest rates — and which now could make it harder to recover from a recession, economists said.”

“There’s nothing fundamentally wrong with our economy.”

Federal Reserve Board Chair Jerome H. Powell

“On the eve of the crisis, one-quarter of the country’s largest companies had more cash going out than coming in, according to Goldman Sachs. The economic shutdown will quickly cause the share of American companies that are cash-flow negative to nearly double, meaning they could be in danger of starving for funds.”

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Chosen excerpts by Job Market Monitor. Read the whole story @ The coronavirus crisis is exposing how the economy was not strong as it seemed – The Washington Post

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