The Federal Reserve's 16 consecutive hikes in interest rates are giving institutional and retail investors newly found respect for cash and money market funds, The Wall Street Journal reports.

In fact, with many market funds returning as much as 5%, the stock market continuing on its roller coaster downward ride and inflation fears spreading, Wall Street strategists are recommending investors put a greater share of their money in cash rather than bonds. Merrill Lynch Strategist Richard Bernstein recently raised his cash recommendation from 10% of an investor's portfolio to 20%. And Fidelity Investments Senior Vice President John Sweeney said investors should consider cash not just as a place to safeguard their money but to seek real earnings.

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