Home / Liquidity / M2 money supply
M2 money supply
M2 money supply is up 5.7% from a year ago and has held roughly steady over the last 3 months. That is in its normal range: higher than 46% of readings since 2006.
Latest (vs. a year ago)
5.7%
Latest level
$23.4 trillion
As of
Sep 2026
3-month change
+0.41 % pts
1-year change
+1.48 % pts
20-year percentile
46th
20-year median
5.9%
What it is. Cash and deposits in the economy. A higher reading means more liquidity in the Liquidity reading. Shown as the change from a year earlier.
What it affects next
It is close to normal and not moving much, so there is no ripple to trace right now.
What is driving it
None of its tested drivers is moving much right now.
All tested links
Fast money growth has sometimes come before inflation; the link is unstable. Typical lag: 12-24 months. Strongest match 18 months later (correlation 0.50, 351 observations since 1996).
Source: Federal Reserve via FRED (series M2SL).