A money supply update. The data presented includes both the M2 money supply and the only remnant of M3 still published by the Federal Reserve which is Institutional Money Market Funds. Together this is the 'broadest' measure of money supply published by the Federal Reserve.As you can see money supply continues contracting which has not happened for the entire data series starting back in 1974. The previous slowdowns around 1994 and 2005 did show declining growth rates but this absolute decline on a year over year basis is unique.
The Fed needs to take some lessons on how to make money:
