The U.S. M1 money supply reached 18.43 trillion dollars in 2024, showing a modest increase from the previous year. While M1 grew gradually between 2000 and 2019, it experienced an unprecedented surge in 2020 due to the Federal Reserve's quantitative easing response to the COVID-19 pandemic. The most dramatic spike occurred in May 2020, when M1 jumped from 4.8 to 16.2 trillion dollars - more than tripling in a single month.

The Federal Reserve's balance sheet has undergone significant changes since 2007, reflecting its response to major economic crises. From a modest 0.9 trillion U.S. dollars at the end of 2007, it ballooned to approximately 6.76 trillion U.S. dollars by March 2025. This dramatic expansion, particularly during the 2008 financial crisis and the COVID-19 pandemic - both of which resulted in negative annual GDP growth in the U.S. - showcases the Fed's crucial role in stabilizing the economy through expansionary monetary policies. Impact on inflation and interest rates The Fed's expansionary measures, while aimed at stimulating economic growth, have had notable effects on inflation and interest rates. Following the quantitative easing in 2020, inflation in the United States reached eight percent in 2022, the highest since 1991. However, by November 2024, inflation had declined to 2.7 percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at 5.33 percent in August 2023, before the first rate cut since September 2021 occurred in September 2024. Financial implications for the Federal Reserve The expansion of the Fed's balance sheet and subsequent interest rate hikes have had significant financial implications. In 2023, the Fed reported a negative net income of 114.3 billion U.S. dollars, a stark contrast to the 58.84 billion U.S. dollars profit in 2022. This unprecedented shift was primarily due to rapidly rising interest rates, which caused the Fed's interest expenses to soar to over 281 billion U.S. dollars in 2023. Despite this, the Fed's net interest income on securities acquired through open market operations reached a record high of 174.53 billion U.S. dollars in the same year.

Key information about Singapore Money Supply M1

• Singapore Money Supply M1 was reported at 355.293 USD bn in Nov 2024
• This records a decrease from the previous number of 359.307 USD bn for Oct 2024
• Singapore Money Supply M1 data is updated monthly, averaging 197.430 USD bn from Mar 2004 to Nov 2024, with 249 observations
• The data reached an all-time high of 394.653 USD bn in Feb 2022 and a record low of 34.654 USD bn in Apr 2004. Singapore Money Supply M1 data remains active status in CEIC and is reported by CEIC Data
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Money Supply M1: USD: Monthly: Seasonally Adjusted

CEIC calculates seasonally adjusted series by X-12 ARIMA. CEIC converts monthly Money Supply M1 into USD. The Monetary Authority of Singapore provides Money Supply M1 in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Money Supply M1 prior to July 2021 covers transactions from Domestic Banking Units and Asian Currency Units.

货币供应 M1：SA：其他流动存款在11-01-2024达10,681.100十亿美元，相较于10-01-2024的10,609.300十亿美元有所增长。货币供应 M1：SA：其他流动存款数据按月更新，05-01-2020至11-01-2024期间平均值为12,592.300十亿美元，共55份观测结果。该数据的历史最高值出现于03-01-2022，达13,681.000十亿美元，而历史最低值则出现于07-01-2024，为10,547.500十亿美元。CEIC提供的货币供应 M1：SA：其他流动存款数据处于定期更新的状态，数据来源于Federal Reserve Board，数据归类于全球数据库的美国 – Table US.KA001: Money Stock Measures。

The United States M2 money supply reached approximately 21.6 trillion U.S. dollars by January 2025, marking a gradual upward trend after a period of decline. This follows an extraordinary surge in 2020 and 2021, primarily driven by the Federal Reserve's aggressive quantitative easing measures in response to the COVID-19 pandemic.