Graph and download economic data for Monetary Base: Total (BOGMBASE) from Jan 1959 to May 2025 about monetary base and USA.

The Federal Reserve's balance sheet has undergone significant changes since 2007, reflecting its response to major economic crises. From a modest *** trillion U.S. dollars at the end of 2007, it ballooned to approximately **** trillion U.S. dollars by May 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 * percent in 2022, the highest since 1991. However, by *************, inflation had declined to *** percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at **** percent in ***********, before the first rate cut since ************** occurred in **************. 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 ***** billion U.S. dollars, a stark contrast to the ***** 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 *** 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 ****** billion U.S. dollars in the same year.

Money Supply M2 in the United States increased to 21942 USD Billion in May from 21862.40 USD Billion in April of 2025. This dataset provides - United States Money Supply M2 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Money Supply M0 in the United States decreased to 5648600 USD Million in May from 5732900 USD Million in April of 2025. This dataset provides - United States Money Supply M0 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Monetary Aggregates and Their Components: Broad Money and Components: M3 for United States (MABMM301USA657S) from 1960 to 2024 about M3, broad, monetary aggregates, and USA.

Graph and download economic data for Real M2 Money Stock (M2REAL) from Jan 1959 to May 2025 about M2, monetary aggregates, real, and USA.

United States Money Supply M2: Savings Deposits: Banks data was reported at 7,871.700 USD bn in Oct 2018. This records a decrease from the previous number of 7,916.500 USD bn for Sep 2018. United States Money Supply M2: Savings Deposits: Banks data is updated monthly, averaging 544.500 USD bn from Jan 1959 (Median) to Oct 2018, with 718 observations. The data reached an all-time high of 7,916.500 USD bn in Sep 2018 and a record low of 51.500 USD bn in Jan 1959. United States Money Supply M2: Savings Deposits: Banks data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.KA005: Money Stock, Liquid Assets and Debt Measures: Monthly.

United States Money Supply: MZM sa data was reported at 15,630.800 USD bn in Nov 2018. This records an increase from the previous number of 15,602.000 USD bn for Oct 2018. United States Money Supply: MZM sa data is updated monthly, averaging 2,046.000 USD bn from Jan 1959 (Median) to Nov 2018, with 719 observations. The data reached an all-time high of 15,630.800 USD bn in Nov 2018 and a record low of 274.900 USD bn in Jan 1959. United States Money Supply: MZM sa data remains active status in CEIC and is reported by Federal Reserve Bank of St. Louis. The data is categorized under Global Database’s United States – Table US.KA006: Money, Zero Maturity.

Calculated as the ratio of quarterly nominal GDP (GDP (https://fred.stlouisfed.org/series/GDP)) to the quarterly average of M1 money stock (M1SL (https://fred.stlouisfed.org/series/M1SL))

The velocity of money is the frequency at which one unit of currency is used to purchase domestically- produced goods and services within a given time period. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time. If the velocity of money is increasing, then more transactions are occurring between individuals in an economy.

The frequency of currency exchange can be used to determine the velocity of a given component of the money supply, providing some insight into whether consumers and businesses are saving or spending their money. There are several components of the money supply,: M1, M2, and MZM (M3 is no longer tracked by the Federal Reserve); these components are arranged on a spectrum of narrowest to broadest. Consider M1, the narrowest component. M1 is the money supply of currency in circulation (notes and coins, demand deposits, and other liquid deposits). A decreasing velocity of M1 might indicate fewer short- term consumption transactions are taking place. We can think of shorter- term transactions as consumption we might make on an everyday basis.

Beginning May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) 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 (3) other liquid deposits, consisting of OCDs and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and OCDs (before May 2020) or other liquid deposits (beginning May 2020), each seasonally adjusted separately. For more information on the H.6 release changes and the regulatory amendment that led to the creation of the other liquid deposits component and its inclusion in the M1 monetary aggregate, see the H.6 announcements (https://www.federalreserve.gov/feeds/h6.html) and Technical Q&As (https://www.federalreserve.gov/releases/h6/h6_technical_qa.htm) posted on December 17, 2020.

The broader M2 component includes M1 in addition to saving deposits, certificates of deposit (less than $100,000), and money market deposits for individuals. Comparing the velocities of M1 and M2 provides some insight into how quickly the economy is spending and how quickly it is saving.

MZM (money with zero maturity) is the broadest component and consists of the supply of financial assets redeemable at par on demand: notes and coins in circulation, traveler’s checks (non-bank issuers), demand deposits, other checkable deposits, savings deposits, and all money market funds. The velocity of MZM helps determine how often financial assets are switching hands within the economy.

The U.S. M1 money supply reached ***** 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 *** to **** trillion dollars - more than tripling in a single month.

Key information about Mexico Money Supply M2

• Mexico Money Supply M2 was reported at 707.141 USD bn in May 2023
• This records an increase from the previous number of 694.119 USD bn for Apr 2023
• Mexico Money Supply M2 data is updated monthly, averaging 226.139 USD bn from Dec 1985 to May 2023, with 450 observations
• The data reached an all-time high of 707.141 USD bn in May 2023 and a record low of 32.198 USD bn in Sep 1986
• Mexico Money Supply M2 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 M2: USD: Monthly

CEIC converts monthly Money Supply M2 into USD. The Bank of Mexico provides Money Supply M2 in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Money Supply M2 prior to December 2000 is based on 1999 Methodology.

The United States M2 money supply reached approximately ***** trillion U.S. dollars by April 2025, marking a gradual upward trend after a period of decline. This followed 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.

Graph and download economic data for Total Money Supply for United States (M1490AUSM157SNBR) from Jul 1914 to Dec 1946 about monetary aggregates, rate, and USA.

Key information about Finland Money Supply M1

• Finland Money Supply M1 was reported at 140.278 USD bn in Jan 2025
• This records a decrease from the previous number of 142.244 USD bn for Dec 2024
• Finland Money Supply M1 data is updated monthly, averaging 41.884 USD bn from Jan 1980 to Jan 2025, with 541 observations
• The data reached an all-time high of 217.421 USD bn in May 2021 and a record low of 11.973 USD bn in Feb 1985. Finland 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

CEIC converts monthly Money Supply M1 into USD. The Bank of Finland provides Money Supply M1 in EUR. The Federal Reserve Board period end market exchange rate is used for currency conversions. Finland is part of the Euro Area and the reported figure corresponds to its contribution to the Euro money supply.

Key information about Venezuela Money Supply M1

• Venezuela Money Supply M1 was reported at 3.095 USD bn in Feb 2025
• This records a decrease from the previous number of 3.263 USD bn for Jan 2025
• Venezuela Money Supply M1 data is updated monthly, averaging 10.785 USD bn from Jan 1996 to Feb 2025, with 350 observations
• The data reached an all-time high of 17,686.756 USD bn in Jan 2018 and a record low of 361.780 USD mn in Jan 2021. Venezuela 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

CEIC converts monthly Money Supply M1 into USD. The Central Bank of Venezuela 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 October 2020 is calculated from M1 in VES and prior to July 2006 is calculated from M1 in VEF. Since October 2020, the national currency became VED (1 VED = 1 000 000 VES) and since August 2018, the national currency became VES (1 VES = 100 000 VEF).

Money Supply M1 in the United States increased to 18712.60 USD Billion in May from 18667.60 USD Billion in April of 2025. This dataset provides - United States Money Supply M1 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

It is commonly believed that the Fed's ability to control the federal funds rate stems from its ability to alter the supply of liquidity in the overnight market through open market operations. This paper uses daily data compiled by the author from the records of the Trading Desk of the Federal Reserve Bank of New York over the period March 1, 1984, through December 31, 1996. The author analyzes the Desk's use of its operating procedure in implementing monetary policy and the extent to which open market operations affect the federal funds rate-- the liquidity effect. The author finds that the operating procedure was used to guide daily open market operations. However, there is little evidence of a liquidity effect at the daily frequency and even less evidence at lower frequencies. Consistent with the absence of a liquidity effect, open market operations appear to be a relatively unimportant source of liquidity to the federal funds market.

Series Is Presented Here As Two Variables--(1)--Seasonally Adjusted Data, 1914-1946 (2)--Seasonally Adjusted Data, 1947-1968. Data Were Derived From Series 14147 (Demand Deposits Adjusted Plus Currency Held By Public). Data Are For The Last Wednesday Of The Month, Except For January 1918-April 1921, Which Are For The Last Friday Of The Month. Data Are For Demand Deposits Plus Currency. Data Are For Percent Change Per Month. This Was Derived From Differences Between Logarithims Converted To Natural Logs. Source: Data For 1914-1942: Direct From NBER. Data For 1943-1945: NBER And The Federal Reserve Board. Data For 1946: Federal Reserve Board.

This NBER data series m14190a appears on the NBER website in Chapter 14 at http://www.nber.org/databases/macrohistory/contents/chapter14.html.

NBER Indicator: m14190a

Key information about Ireland Money Supply M2

• Ireland Money Supply M2 was reported at 377.217 USD bn in Jan 2025
• This records a decrease from the previous number of 377.496 USD bn for Dec 2024
• Ireland Money Supply M2 data is updated monthly, averaging 243.048 USD bn from Jan 1999 to Jan 2025, with 313 observations
• The data reached an all-time high of 394.497 USD bn in Sep 2024 and a record low of 72.727 USD bn in Jun 1999
• Ireland Money Supply M2 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 M2: USD: Monthly

CEIC converts monthly Money Supply M2 into USD. The Central Bank of Ireland provides Money Supply M2 in EUR. The Federal Reserve Board period end market exchange rate is used for currency conversions. Ireland is part of the Euro Area since January 1999 and the reported figure corresponds to its contribution to the Euro money supply.

The Federal Reserve's balance sheet ballooned following its announcement to carry out quantitative easing to increase the liquidity of U.S. banks in early 2020. The balance sheet continued to grow in the following period as well, with a downward trend in 2023. As of February 29, 2024, the Fed's balance sheet amounted to roughly 7.6 trillion U.S. dollars. The most drastic increase in the observed period took place in the first half of 2020. This measure was taken to increase the money supply and stimulate economic growth in the wake of the damage caused by the COVID-19 pandemic. The Federal Reserve was not the only institution that implemented an expansionary monetary policy in response to the pandemic. For instance, the European Central Bank expanded its money supply in March 2020 and kept doing so over the following months. How do central banks increase the amount of money in circulation? Central banks can increase the money circulating in the economy in many ways. For instance, they can decrease banks’ reserve requirements to stimulate lending or decrease the interest rates to reduce the cost of borrowing for commercial banks. Alternatively, central banks can engage in open market operations (OMO) and buy securities such as government bonds from commercial banks or institutions. By conducting open market operations, the Federal Reserve expanded its balance sheet by seven trillion U.S. dollars between 2007 and 2023. All these measures aim to increase bank loans to entrepreneurs and consumers in order to stimulate employment and economic growth. Impact of COVID-19 on the U.S. economy The COVID-19 pandemic had a tremendous impact on national economies worldwide, and the United States was no exception. During the early months of the crisis, many lost their jobs, mostly those in lower-income categories. As a consequence, many Americans found it difficult to pay their rent and cover basic household expenses. Furthermore, in April 2022, most small business owners claimed that the pandemic had a large or moderate negative effect on their businesses. Overall, the gross domestic product (GDP) of the United States decreased by roughly 2.2 percent in 2020. In the following years, however, it increased notably, surpassing 25 trillion U.S. dollars in 2022.