M2 money supply (year over year)
US M2 money supply growth was 5.7% in September 2026, up 0.1 percentage points from the month before.
Over the past year it has risen by 1.5 percentage points. The latest reading is higher than 36% of all readings since January 1960. It was last this low in September 2019. Current status: growing.
- Latest
- 5.7%
- 1 month ago
- 5.6%
- 1 year ago
- 4.2%
- Change over 1 year
- +1.5 pp
- History percentile
- 37th
- History since
- January 1960
What it is
The year-over-year change in M2, a broad measure of money that includes currency, checking and savings deposits, small time deposits and retail money market funds.
Why it matters for investors
Rapid money growth has at times preceded higher inflation, and falling money supply signals tight monetary conditions. The link with inflation is loose and has changed over time.
How to read it
Compare the growth rate with nominal GDP growth. Money growing much faster than the economy points to ample liquidity; contraction, which is rare, points to tight conditions.
Method and sources
Source: Board of Governors of the Federal Reserve System, retrieved from FRED, Federal Reserve Bank of St. Louis (series M2SL). We calculate the year-over-year change from the monthly index level. Figures are published with a lag and can be revised.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
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