M2 Growth May Have Gotten Too Much Credit for Inflation

Home » News & Insights » 01.18.2023 | Mid-Week Minute

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Authored by

Chris Konstantinos CFA®

Managing Partner | Chief Investment Strategist
Doug Sandler CFA®

Vice Chairman

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M2 is the U.S. Federal Reserve's estimate of the total money supply including all of the cash people have on hand plus all of the money deposited in checking accounts, savings accounts, and other short-term saving vehicles such as certificates of deposit (CDs). Retirement account balances and time deposits above $100,000 are omitted from M2.

The term Federal Reserve System (FRS) refers to the central bank the U.S. The Fed, as it is commonly known, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C., the Board of Governors and 12 regional Federal Reserve Banks in major cities throughout the U.S. The Fed's central role is to handle the country's monetary policy, among other things.

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M2 Growth May Have Gotten Too Much Credit for Inflation

Authored by

Chris Konstantinos CFA®

Managing Partner | Chief Investment Strategist

Doug Sandler CFA®

Vice Chairman