The US M2 money supply increased 0.3% MoM in January, slightly lower than the 0.4% MoM increase in December. The annual increase was unchanged at 4.3% YoY, in line with the highest in 2025.

• The M1 money supply increased 0.6% MoM in January, ahead of the 0.4% MoM increase in December. The annual increase accelerated slightly from 3.9% YoY to 4.0% YoY.
• Both components of the monetary base increased on a MoM, with currency in circulation up 3.3% YoY (Dec: 2.9% YoY) and reserve balances down -8.8% YoY (Dec: -9.2% YoY).

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 4.2% 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).