The M1 money supply in the U.S. increased from just over four trillion U.S. dollars in February 2020 to 5.6 trillion U.S. dollars in October 2020. This significant increase is likely a result of the Federal Reserve's quantitative easing in response to the COVID-19 pandemic.
Value of M1 money stock in the United States from January 2016 to October 2020
(in trillion U.S. dollars)
The source adds the following information: "M1 includes funds that are readily accessible for spending. M1 consists of: currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; traveler's checks of nonbank issuers; demand deposits; and other checkable deposits (OCDs), which consist primarily of negotiable order of withdrawal (NOW) accounts at depository institutions and credit union share draft accounts. Seasonally adjusted M1 is calculated by summing currency, traveler's checks, demand deposits, and OCDs, each seasonally adjusted separately."
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St. Louis Fed. (November 16, 2020). Value of M1 money stock in the United States from January 2016 to October 2020 (in trillion U.S. dollars) [Graph]. In Statista. Retrieved August 13, 2022, from https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
St. Louis Fed. "Value of M1 money stock in the United States from January 2016 to October 2020 (in trillion U.S. dollars)." Chart. November 16, 2020. Statista. Accessed August 13, 2022. https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
St. Louis Fed. (2020). Value of M1 money stock in the United States from January 2016 to October 2020 (in trillion U.S. dollars). Statista. Statista Inc.. Accessed: August 13, 2022. https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
St. Louis Fed. "Value of M1 Money Stock in The United States from January 2016 to October 2020 (in Trillion U.S. Dollars)." Statista, Statista Inc., 16 Nov 2020, https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
St. Louis Fed, Value of M1 money stock in the United States from January 2016 to October 2020 (in trillion U.S. dollars) Statista, https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/ (last visited August 13, 2022)
