The United States M1 money supply reached approximately 18.24 trillion dollars by October 2024, showing a slight uptick from the previous year. This modest increase follows a period of contraction in late 2022 and early 2023, which stood in stark contrast to the dramatic expansion seen from May 2020 onward. The earlier surge was largely attributed to the Federal Reserve's aggressive quantitative easing measures implemented in response to the economic fallout from the COVID-19 pandemic.
Monthly value of M1 money stock in the United States from January 2002 to September 2024
(in billion U.S. dollars)
The source adds the following information: M1 consists of currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of deposatory institutions; 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 other liquid deposits, consisting of other checkable deposits (or OCDs, which comprise negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions) and savings deposits (including money market deposit accounts).
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Federal Reserve. (December 4, 2024). Monthly value of M1 money stock in the United States from January 2002 to September 2024 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
Federal Reserve. "Monthly value of M1 money stock in the United States from January 2002 to September 2024 (in billion U.S. dollars)." Chart. December 4, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
Federal Reserve. (2024). Monthly value of M1 money stock in the United States from January 2002 to September 2024 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
Federal Reserve. "Monthly Value of M1 Money Stock in The United States from January 2002 to September 2024 (in Billion U.S. Dollars)." Statista, Statista Inc., 4 Dec 2024, https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/
Federal Reserve, Monthly value of M1 money stock in the United States from January 2002 to September 2024 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/ (last visited December 22, 2024)
Monthly value of M1 money stock in the United States from January 2002 to September 2024 (in billion U.S. dollars) [Graph], Federal Reserve, December 4, 2024. [Online]. Available: https://www.statista.com/statistics/1121016/monthly-m1-money-stock-usa/