This post first appeared on FloatingPath

Changes in the money supply during the week ending December 16, as reported by the U.S. Federal Reserve:

  • Total currency in circulation was $1.1596 trillion, up 0.11% from the week prior.
  • Total M1 in circulation was $2.6459 trillion, up 0.22% from the week prior.
  • Total M2 in circulation was $10.9767 trillion, up 0.05% from the week prior.

Money Supply

M2 is now up 5.6% from a year ago.

M23 600x375 M2 Increases 0.05% Week Over Week

Where U.S. inflation measures currently stand:

Inflation3 600x375 M2 Increases 0.05% Week Over Week

M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) traveler’s checks of nonbank issuers; (3) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts, and demand deposits at thrift institutions.

M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000), less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market mutual funds, less IRA and Keogh balances at money market mutual funds.