Specifically, the average American keeps $67 in cash on hand, according to a Federal Reserve survey. If you’re conflicted on this, you’re not alone.

When New York Gov. Thomas Dewey implored Gen. Dwight Eisenhower to run for president in 1952, he pledged to "raise a hell of a lot of money" from Big Business in order to scare away potential rivals.

By keeping a steady hand, the ECB could buy insurance against a wide range of possible outcomes and this approach would be robust enough to deal with different scenarios, Schnabel argued.

And the second reason, we had existing money left over." The city allocated $5 million of its federal American Rescue Plan Act money to the project. The funds must be spent by Dec. 31, 2026.