Campbell Covid Q4
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To the extent retained earnings are available, and dividends can be deferred, large employers should devote cash reserves to maintaining employees on payroll. The federal PPP is focused on smaller employers; the larger ones will have to finance this on their own. Also, to the maximum extent possible, large firms should pay their bills on a current basis, to keep consumer power from eroding on the part of their vendors. Cash hoarding is extremely dangerous to our economic recovery.