US Money Supply

Data Monetary Policy

Source: Federal Reserve
Source Link: https://www.federalreserve.gov/
Frequency: Monthly
Next Release(s): February 24th, 2026 1:00 PM

Latest Updates

The US M2 money supply increased 0.5% MoM in December, a stronger monthly rise than the 0.1% MoM increase in November. The annual increase accelerated from 4.3% YoY to 4.6% YoY.
- The M1 money supply increased 0.4% MoM in December, after a 0.1% MoM increase in November. The annual rate bounced back from 3.9% YoY to .2% YoY.
- The monthly data suggests that the drop in reserve balances in November was almost completely reversed in December.
The US M2 money supply edged up 0.1% MoM in November, causing the annual increase to slow from 4.6% YoY in October to 4.3% YoY.
- The M1 money supply also saw weaker monthly growth of 0.1% MoM in November with the annual rate slowing to 3.9% YoY from 4.4% YoY previously (lowest since May).
- The roll over in money supply YoY growth came as a result of a large decline in other liquid deposits (subset of M1) which is now down around -2% YoY in November after positive YoY growth in October.
The US M2 money supply increased 0.4% MoM to $22.3 trillion in September, a slight deceleration from the 0.5% MoM increase in August. The annual growth was 4.6% YoY, up slightly from 4.5% YoY previously.
- The M1 money supply increased 0.5% MoM and 4.4% YoY to $19.0 trillion, up from 4.2% YoY previously.
- The growth in the monetary base continues to weaken, down from -2.0% YoY in August to -3.7% YoY in September, with currency in circulation up 2.6% YoY and the reserve base down -8.3% YoY.
The US M2 money supply increased 0.5% MoM to $22.2 trillion in September, a slight acceleration over the 0.4% MoM increase in August. The annual growth edged up to 4.5% YoY, up from 4.4% YoY previously and the highest since July 2022.
- The M1 money supply increased 0.4% MoM and 4.2% YoY to $18.9 trillion in September, unchanged from 4.2% YoY growth in August.
- The growth in the monetary base is now -2.0% YoY in September, down from 0.3% YoY, as reserve balances dropped -5.2% YoY (down from -1.2% YoY) and total currency in circulation was up 2.5% YoY (mostly unchanged from 2.4% YoY).
The US M2 money supply increased 0.4% MoM to $22.2 trillion in August, matching the pace of money supply growth in July. The annual increase was unchanged at 4.8% YoY, staying at the highest rate since July 2022.
- The M1 money supply increased 0.2% MoM to $18.9 trillion with the annual rate up from 4.5% YoY in July to 4.6% YoY in August.
- After a decline MoM, the monetary base was up just 0.3% YoY, down from 1.5% YoY previously, with currency in circulation up 2.4% YoY (prev 2.1% YoY) and reserve balances down -1.2% YoY (prev 1.2% YoY).
The US M2 money supply increased 0.4% MoM to $22.1 trillion in July, following the 0.6% MoM increase in June. Annual growth accelerated from 4.5% YoY to 4.8% YoY, the highest since July 2022.
- The M1 money supply increased 0.3% MoM to $18.7 trillion with the annual rate up from 4.2% YoY to 4.6% YoY.
- Growth in the monetary base on an annual basis continues to accelerate with total currency in circulation up 2.1% YoY (vs 1.8% YoY previously) and the monetary base up 1.5% YoY (vs 0.3% YoY previously).
The US M2 money supply increased 0.6% MoM to $22.0 trillion in June, ahead of the 0.4% MoM increase in May. The annual increase accelerated from 4.2% YoY to 4.5% YoY.
- M1 money supply increased 0.6% MoM as well, rising to $18.8 trillion with annual growth up to 4.2% YoY (previously 3.9%).
- Total currency in circulation was up 1.8% YoY (prev 1.6% YoY) while reserve balances fell -0.7% YoY (prev -3.4% YoY) and the monetary base was basically flat at 0.3% YoY (prev -1.3% YoY).
The US M2 money supply increased 0.4% MoM to $21.94 trillion in May, slowing from the 0.7% MoM increase in April. The annual increase accelerated slightly from 4.4% YoY to 4.5% YoY.
- M1 money supply increased just 0.2% MoM to $18.71 trillion with annual growth remaining unchanged at 3.9% YoY.
- Total currency in circulation was up 1.6% YoY (prev 1.4% YoY) while reserve balances fell -3.4% YoY (prev -2.2% YoY) and the monetary base contracted by -1.3% YoY (prev -0.7% YoY).
The US M2 money supply increased 0.72% MoM to $21.86 trillion in April, the largest monthly increase since December 2021. The annual increase accelerated from 3.9% YoY to 4.4% YoY.
- M1 money supply saw a smaller increased of 0.68% MoM to $18.67 trillion but the annual gain still saw an acceleration to 3.9% YoY from 3.1% YoY.
- The growth in total reserves was -2.2% YoY, an improvement from -3.8% YoY, and the total monetary base was down just -0.7% YoY after a decline of -1.8% YoY previously.
The US M2 money supply increased 0.42% MoM to $21.76 trillion in March, and the annual increase accelerated from 3.9% YoY to 4.1% YoY.
- M1 money supply saw a smaller increased of 0.16% MoM to $18.56 trillion but the annual gain still saw an acceleration to 3.2% YoY from 3.0% YoY.
- The growth in total reserves was -3.8% YoY, a sharp improvement from -8.6% YoY, and the total monetary base was down just -1.8% YoY after a decline of -4.8% YoY previously.
The US M2 money supply increased 0.44% MoM to $21.67 trillion in February, and the annual increase was 3.9% YoY, unchanged from 3.9% YoY in January.
- The M1 money supply was up 0.36% MoM to $18.53 trillion with the annual gain slightly accelerating from 2.9% YoY to 3.0% YoY.
- The growth in total reserves fell to -8.6% YoY (prev -7.2% YoY), and the total monetary base was down -4.8% YoY (prev -3.9% YoY).
The US M2 money supply edged up 0.06% MoM to $21.56 trillion in January, and the annual rate saw a slight acceleration to 3.9% YoY from 3.8% YoY.
- The US M1 money supply increased 0.12% MoM to $18.46 trillion, and the annual rate accelerated to 2.9% YoY in January, up from 2.5% YoY in December.
- The growth in total reserves was unchanged at -7.2% YoY, and the growth in the total currency in circulation eased from 1.2% YoY in December to 2.0% YoY in January.