CFS Monetary Measures for December 2022

Today we release CFS monetary and financial measures for December 2022. CFS Divisia M4, which is the broadest and most important measure of money, fell by 0.9% in December 2022 on a year-over-year basis versus an increase of 0.3% in November.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Dec22.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

1) ALLX DIVM
2) ECST T DIVMM4IY
3) ECST –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) ECST S US MONEY SUPPLY –> From source list on left, select ‘Center for Financial Stability’

CFS Monetary Measures for November 2022

Today we release CFS monetary and financial measures for November 2022. CFS Divisia M4, which is the broadest and most important measure of money, grew by 0.2% in November 2022 on a year-over-year basis, maintaining the same growth rate as in October.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Nov22.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

1) ALLX DIVM
2) ECST T DIVMM4IY
3) ECST –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) ECST S US MONEY SUPPLY –> From source list on left, select ‘Center for Financial Stability’

CFS Monetary Measures for October 2022

Today we release CFS monetary and financial measures for October 2022. CFS Divisia M4, which is the broadest and most important measure of money, was roughly unchanged in October 2022 on a year-over-year basis versus 2.0% in September.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Oct22.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

1) ALLX DIVM
2) ECST T DIVMM4IY
3) ECST –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) ECST S US MONEY SUPPLY –> From source list on left, select ‘Center for Financial Stability’

CFS Monetary Measures for September 2022

Today we release CFS monetary and financial measures for September 2022. CFS Divisia M4, which is the broadest and most important measure of money, grew by 1.9% in September 2022 on a year-over-year basis versus 2.3% in August.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Sep22.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

1) ALLX DIVM
2) ECST T DIVMM4IY
3) ECST –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) ECST S US MONEY SUPPLY –> From source list on left, select ‘Center for Financial Stability’

CFS Monetary Measures for August 2022

Today we release CFS monetary and financial measures for August 2022. CFS Divisia M4, which is the broadest and most important measure of money, grew by 2.5% in August 2022 on a year-over-year basis versus 2.3% in July.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Aug22.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

1) ALLX DIVM
2) ECST T DIVMM4IY
3) ECST –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) ECST S US MONEY SUPPLY –> From source list on left, select ‘Center for Financial Stability’

CFS Monetary Measures for July 2022

Today we release CFS monetary and financial measures for July 2022. CFS Divisia M4, which is the broadest and most important measure of money, grew by 2.3% in July 2022 on a year-over-year basis versus 1.7% in June.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Jul22.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

1) ALLX DIVM
2) ECST T DIVMM4IY
3) ECST –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) ECST S US MONEY SUPPLY –> From source list on left, select ‘Center for Financial Stability’

CFS Monetary Measures for June 2022

Today we release CFS monetary and financial measures for June 2022. CFS Divisia M4, which is the broadest and most important measure of money, grew by 1.8% in June 2022 on a year-over-year basis versus 2.1% in May.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Jun22.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

1) ALLX DIVM
2) ECST T DIVMM4IY
3) ECST –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) ECST S US MONEY SUPPLY –> From source list on left, select ‘Center for Financial Stability’

FT: Bair on Volcker and the Fed

Today, the Financial Times published Sheila Bair’s Opinion piece “The Fed must emulate the tactics of Volcker’s fight against inflation.” Sheila notes that:

  • US Federal Reserve chair Jay Powell has expressed deep admiration for the legendary Paul Volcker, yet Powell is deviating from Volcker’s methods.
  • Volcker fought inflation by restraining growth in money supply to keep monetary policy tight through two recessions to finally beat inflation.
  • For many years, the Fed has unwisely paid little attention to the huge volume of money its accommodative polices have created. It now needs to follow Volcker’s example and attack excess money supply head-on.

We look forward to any comments you might have.

To view the full article:
https://www.ft.com/content/b82082c9-d26a-47a5-8b1a-34121f572645

Sheila Bair is a former chair of the US Federal Deposit Insurance Corporation and a senior fellow and Advisory Board member at the Center for Financial Stability.

CFS Monetary Measures for May 2022

Today we release CFS monetary and financial measures for May 2022. CFS Divisia M4, which is the broadest and most important measure of money, grew by 2.3% in May 2022 on a year-over-year basis versus 3.4% in April.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_May22.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

1) ALLX DIVM
2) ECST T DIVMM4IY
3) ECST –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) ECST S US MONEY SUPPLY –> From source list on left, select ‘Center for Financial Stability’