Money Supply Growth Moderated in December

In our last update on money supply – using the “Austrian” measure of money supply developed by Murray Rothbard and Joseph Salerno – we found that money supply growth hit a 46-month high of 11.2 percent in October.
Growth has moderated since then, however, with year-over-year growth in US dollars dropping to 10.3 percent in November and 8.8 percent in December.
This change somewhat follows a change in M2 over the same time period as 1M2 growth hit a multi-year high of 7.5 percent in October, but fell to 7.3 percent and 7.0 percent in November and December, respectively.

This post was published at Ludwig von Mises Institute on February 4, 2017.