Monthly Archives: June 2025

CFS Monetary Measures for May 2025

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Today we release CFS monetary and financial measures for May 2025. CFS Divisia M4, which is the broadest and most important measure of money, grew by 3.9% in May 2025 on a year-over-year basis versus 4.0% in April.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_May25.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’

WSJ op-ed: “A Government Agency Worth Saving”

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The Wall Street Journal published an op-ed titled “A Government Agency Worth Saving” by Sheila Bair and me in today’s Weekend Edition.  We note that:

– Some underperforming government agencies should be restructured rather than closed. This is true of the Office of Financial Research, which Congress created after the 2008-09 financial crisis to help anticipate and avert future crises.

– To be sure, the OFR has not measured up to its original purpose.  But it would be a huge mistake to end access to the data and intelligence that OFR collects during a time of international uncertainty and market turmoil.

– We offer concrete steps on crisis detection and prevention, data and analytics, as well as governance to restructure and refocus OFR – not close it down.

We look forward to any comments you might have.

View the full article here.

CFS Monetary Measures for April 2025

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Today we release CFS monetary and financial measures for April 2025. CFS Divisia M4, which is the broadest and most important measure of money, grew by 4.0% in April 2025 on a year-over-year basis versus 3.3% in March.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Apr25.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’