U.S. companies reportedly have put the brakes on cash spending as President Donald Trump’s tax reform promises have yet to lead to a rise in investment and overall uncertainty surrounds the actual details of his plan.
“The data, in a survey of corporate treasurers, suggests the new administration’s promises of tax reform, deregulation and infrastructure spending have not yet led US executives to increase investment,” the Financial Times reported.
“In January, more companies said they were planning to draw down their cash reserves than to add to them — the strongest signal in two years of expansive intentions, from the quarterly survey by the Association for Financial Professionals survey,” the FT reported.
“Three months on, however, a majority of corporate treasurers said they have not done that, and a majority said they intend to hoard still more cash in the current quarter,” the FT said.
“In January, people were pretty