The M1 money supply in the U.S. stood at roughly 18.2 trillion U.S. dollars as of November 2023, significantly lower than a year before that. M1 money supply decreased significantly in the second half of 2022 and in the first half of 2023, after a period of sharp increase starting in May 2020. The sharp increase in May 2020 was a result of the Federal Reserve's quantitative easing in response to the COVID-19 pandemic.
Monthly value of M1 money stock in the United States from January 2002 to September 2023
(in billion U.S. dollars)
Characteristic
Money supply in billion U.S. dollars
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The source adds the following information: M1 consists of currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of deposatory institutions; 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 other liquid deposits, consisting of other checkable deposits (or OCDs, which comprise negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions) and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and other liquid deposits, each seasonally adjusted separately.
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Federal Reserve. (October 24, 2023). Monthly value of M1 money stock in the United States from January 2002 to September 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
Federal Reserve. "Monthly value of M1 money stock in the United States from January 2002 to September 2023 (in billion U.S. dollars)." Chart. October 24, 2023. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
Federal Reserve. (2023). Monthly value of M1 money stock in the United States from January 2002 to September 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
Federal Reserve. "Monthly Value of M1 Money Stock in The United States from January 2002 to September 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 24 Oct 2023, https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
Federal Reserve, Monthly value of M1 money stock in the United States from January 2002 to September 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/ (last visited September 01, 2024)
Monthly value of M1 money stock in the United States from January 2002 to September 2023 (in billion U.S. dollars) [Graph], Federal Reserve, October 24, 2023. [Online]. Available: https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/