U.S. paper currency in Washington on Oct. 4, 2024. Madalina Vasiliu/The Epoch Times
A key measure of the Federal Reserve’s money supply reached an all-time high in August, new central bank data show.
The M2 money supply—a broad metric of money and savings in the U.S. economy—climbed by approximately $1 trillion from a year ago to $22.2 trillion last month, topping the pandemic-era peak and representing a 5 percent year-over-year increase. Over the past five years, the data show, the M2 money base has soared by approximately $7 trillion.
