Federal Reserve to revise down forecast for US economy; Nonfinancial companies hold over $8.0trn in cash or 7% of assets — highest since 1963
Aug 9th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Federal Reserve is expected revise down its growth forecast for the US economy at the meeting of its rate setting Federal Open Market Committee, on Tuesday. Meanwhile, nonfinancial US companies are reported to have been sitting on $8.4trn in cash as of the end of March, or about 7% of all company assets - - the highest level since 1963.