btw, I was reading about this, the growth in M1 in 2020 involved a reclassification moving savings deposits and money market funds from M2 into M1: https://fredblog.stlouisfed.org/2021/01/whats-behind-the-recent-surge-in-the-m1-money-supply/
Shenanigans
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its why the M2 number isn't really a good indicator at this point either
This was an intentional scrambling of the data to obfuscate the CARES Act.
Happened around the time reserve requirements were set to zero
