Monday, July 26

Cash

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5 ways to spend cash gifts to turn them into more money

When you buy through our links, Insider may earn an affiliate commission. Learn more.If you got married or had a birthday recently, you might be sitting on cash gifts. Financial pros say you can invest in a side hustle or buy crypto (without risking your savings). Or, keep the money in a high-yield account or pay off debt to build wealth over the long term. Compare savings account rates & offers in your area » Over the last few years, I've received a lot of cash gifts from friends and family for different celebrations in my life. I got engaged, had a couple of birthdays, and ended up eloping during the pandemic. In order to keep track of these cash gifts and...
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The Fed is soaking up nearly $1 trillion from market participants awash in cash and desperate for returns

A person walks by the Federal Reserve on Saturday, April 25, 2020. Caroline Brehman/CQ-Roll Call/Getty Images The Federal Reserve's daily cash operations approached $1 trillion on Wednesday, as banks and other market participants drowning in cash look for somewhere to park their money.The Fed's "reverse repo" facility, where financial institutions can deposit cash overnight, took in an all-time high of $992 billion on Wednesday, according to Fed data. Usage shot up 121% in the month of June and is up 248% from April 2020, the last time the facility saw heavy use. At the beginning of 2021, the facility went essentially untouched.Some observers worried the unprecedented volumes of cash could spell trouble for markets. "This is far more important than people realize," tweeted Guy Ad...