Indicator · updated with every release
US M2 money supply today
The broad stock of US money: cash, checking and savings deposits, small time deposits and retail money market funds.
The full M2 money supply chart is in Pro, with its whole history, ranges, overlays and alerts, next to 111 other charts.
What it is
M2 (FRED M2SL) is published monthly by the Federal Reserve, seasonally adjusted. It grew by almost 27% in the year to February 2021, the fastest on record, then fell year on year in 2023 (by about 4.7% in the year to April 2023), the first sustained declines since the series began.
Why it matters for liquidity
M2 measures money held by households and firms. Global liquidity is broader in one way (it covers the world’s central banks and the collateral that funds markets) and narrower in another (it’s about funding for financial markets, not spending money). The two often move together, but not always.
Questions
How big is the US money supply now?
M2 was US$23.41 trillion in September 2026, up 5.7% on a year earlier.
Is M2 the same as global liquidity?
No. M2 is US deposits and cash. Global liquidity adds up the balance sheets of the major central banks and the government debt used as collateral, across countries.
Related
Get the full picture. Pro has the M2 money supply chart and 111 more on liquidity, central banks, rates and markets, plus a weekly note, momentum alerts and an MCP connector to ask about them in Claude or ChatGPT. Free for 10 days.
Start free trialGeneral information only, not financial advice. Data can be delayed, revised or wrong. Sources and credits.