Ah ha! thanks, that makes sense since deposits these days are use like physical cash. All I found one of the few ~non-sneaky~ things the Fed has done lately. 🧐
Savings deposits were reclassified from a non-M1 component of M2 into M1 itself. Since M2 ⊃ M1 that change isn't actually reflected in the M2 chart. You can see the M1 chart ~triple overnight when the change was made: https://fred.stlouisfed.org/series/M1SL
Ah ha! thanks, that makes sense since deposits these days are use like physical cash. All I found one of the few ~non-sneaky~ things the Fed has done lately. 🧐
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