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Companies use borrowed billions to buy back stock, not to invest

By Ben Holland and Liz McCormick (originally published by Bloomberg) – When the Federal Reserve cuts interest rates, making it cheaper to borrow, it’s supposed to deliver a direct boost to the economy. But one key part of that machinery has broken down…

[Cross-posted from Bloomberg publication of August 9, 2019
at https://www.bloomberg.com/news/articles/2019-08-08/companies-use-borrowed-billions-to-buy-back-stock-not-to-invest]

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