THE ECONOMY
From Times Staff and Wire Reports
Money Supply Indicators Slip: The two broadest measures of the nation’s money supply fell slightly in the week ended July 29, the Federal Reserve Board reported. The Fed said M2 fell to a seasonally adjusted $3,385.1 billion from $3,385.3 billion the previous week. M3, a broader measure, dipped to a seasonally adjusted $4,145.9 billion from a revised $4,146.2 billion. The narrowest measure, M1, rose to a seasonally adjusted $864.4 billion from $860.1 billion. M1 counts cash in circulation, checking account deposits and non-bank travelers’ checks. M2 is M1 plus savings deposits and money market mutual funds; M3 is M2 combined with less liquid accounts such as $100,000-minimum certificates of deposit.
