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Did the Fed Stop Reporting the Money Supply (M2)? Why Inflation is Coming Back
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Jay Powell, Fed Chairman
Reports are circulating that the Federal Reserve has given up on reporting the money supply because it’s a misleading guide to economic growth and price inflation.
The broad-based M2 has been growing at double-digit-percentage rates for several years M2 is up by 25% in the past year yet price inflation (Consumer Price Index) is still hobbling along at 2% a year.
Last week, Fed Chairman Jay Powell said he has given up on the money supply as an indicator of the economy and inflation.