Money Supply

M2, the monetary base, and the Federal Reserve's own balance sheet, each measured against the prior reading, the start of the year, and twelve months earlier. The latest reading is for July 2026.

M2 is currency in circulation plus checking and savings deposits and retail money market funds, seasonally adjusted: the broad measure of money already in the public's hands, published monthly by the Federal Reserve.

The monetary base is currency in circulation plus the reserves banks hold at the Federal Reserve, not seasonally adjusted: what the Federal Reserve creates directly, before the banking system lends any of it back out.

The Federal Reserve's total assets are its own balance sheet: government bonds, mortgage backed securities, and other holdings, published weekly and collapsed here to one reading a month. This is the most direct picture of the Federal Reserve buying or reducing its holdings of these securities.

M2 money supply, recent months

How to read these together

All three tend to expand together during periods when the Federal Reserve is adding to its holdings, and to contract or grow more slowly when it is reducing them. A faster growth rate in these series is not, by itself, a forecast of higher prices or asset values: the relationship between money supply growth and inflation is debated among economists and has not been stable across every period in history. These figures are a reading of the money supply itself, not a prediction of what it will do to markets or prices next.

Source and limitations

Figures are the Federal Reserve's own H.6 money stock release for M2, and the H.4.1 release for the balance sheet and monetary base, by way of Federal Reserve Economic Data. M2 is seasonally adjusted; the monetary base and Federal Reserve total assets are not. Figures are revised from time to time by the source; this page reflects the values published as of the update date below.

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Source: Federal Reserve Economic Data: H.6 money stock (M2, seasonally adjusted) and H.4.1 balance sheet. Updated 2026-09-15.