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).