I can understand being wary about the stock market right now. However, inflation is at 3.7% right now for the year up from 3.4%. You can continue hold onto your money, but it buys approximately 3.7% less than it did in January 12 months ago overall. If you'd put that money into the market in Jan 1 a year ago instead of having 3.7% less, you'd have a 6.82% more now, but you can't go back in time with that knowledge to do that.

If you're looking to park your money safely without having it eaten up by inflation, currently US short term (4-weeks long) treasury bills are paying a bit more than 3.9%. .2% profit is not much profit, but its better than a 3.7% loss in value.

edit: corrected specifics, thank you @boonhet@sopuli.xyz