The nation’s basic money supply rose in early May.
For the week ended May 11, the basic money supply, known as M1, rose $1.6 billion to a seasonally adjusted $750.6 billion, the Federal Reserve reported. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M1 grew at a rate of 15.5% from 52 weeks earlier, the Fed reported.
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