Seasonally adjusted money supply has been growing on a consistent monthly basis since November 2023 (29 straight months).
The latest month (March) showed growth of $59B, which is slightly below the recent average. Despite the smaller growth when compared to recent months, this is still massive growth in the overall M2 money supply.
The March average is typically around 4.2%, which puts the latest month below average for March.
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Money supply is a very important indicator. It helps show how tight or loose current monetary conditions are regardless of what the Fed is doing with interest rates. Even if the Fed is tight, if money supply