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The Federal Reserve reported that a broad...

The Federal Reserve reported that a broad measure of the nation’s money supply rose in early May. The Fed said M2 cracked the $3-trillion mark, rising $3.3 billion to a seasonally adjusted $3,000.9 billion in the week ended May 9 from $2,997.6 billion the previous week. The narrowest measure of the money supply, M1, fell $7.2 billion to a seasonally adjusted $769.1 billion from $776.3 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2 is M1 plus accounts such as savings deposits and money market mutual funds.


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