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Money Supply
Economic Indicators
|
At March 2023 M1
deacreased by
-1.98 % from Feb. 2023 and
deacreased by
-8.53 % from March 2022,
while M2
deacreased by
-1.22 % from previous month and
deacreased by
-4.55 % year on year.
|
|
The last FOMC's target federal funds rate change
On July 26 2023 the Federal Open Market Committee, decieded to
raise
the target federal funds rate to
5.50 %
an increase by
0.25 % from the previous FOMC's target federal funds rate of
5.25 %.
U. S. Federal Reserve's Federal Open Market Committee, which consists of twelve members; the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis. FOMC is responsible for the control of the U. S. monetary policy, using three tools; open market operations, the discount rate, and reserve requirements.
Using the three tools, the Federal Reserve influences the demand for, and supply of, balances that depository institutions hold at Federal Reserve Banks and in this way alters the federal funds rate. The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight.
Changes in the federal funds rate trigger a chain of events that affect other short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables, including employment, output, and prices of goods and services.
|
Federal Funds Rate
Money
Stock Measures
Seasonally adjusted (In Billions $) |
March 2023
adv. |
Feb. 2023
final |
Jan. 2023
final |
Dec. 2022
adv. |
Nov. 2022
final |
Oct. 2022
final |
| M1 |
|
18,942.80 |
19,325.80 |
19,559.70 |
19,685.80 |
19,935.80 |
20,100.30 |
| M2 |
|
20,818.10 |
21,075.40 |
21,212.00 |
21,207.40 |
21,354.80 |
21,415.50 |
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. |
Money Stock Measures
(In
% M / M) |
March 2023
adv. |
Feb. 2023
final |
Jan. 2023
final |
Dec. 2022
adv. |
Nov. 2022
final |
Oct. 2022
final |
| M1 |
-1.98 % |
-1.2 % |
-0.64 % |
-1.25 % |
-0.82 % |
-0.9 % |
| M2 |
-1.22 % |
-0.64 % |
0.02 % |
-0.69 % |
-0.28 % |
-0.41 % |
Money Stock Measures
(In
% Y / Y) |
March 2023
adv. |
Feb. 2023
final |
Jan. 2023
final |
Dec. 2022
adv. |
Nov. 2022
final |
Oct. 2022
final |
| M1 |
-8.53 % |
-6.49 % |
-5.58 % |
-3.9 % |
-1.7 % |
0.09 % |
| M2 |
-4.55 % |
-3.1 % |
-2.88 % |
-1.79 % |
-0.22 % |
1.08 % |
Source: U.S. Federal Reserve
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