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OTHER NEWS

From Times Staff and Wire Reports

Money Supply Declines: The Federal Reserve Board reported that the measure of the nation’s money supply known as M2 fell to a seasonally adjusted $3,588.7 billion, down $18.3 billion from a revised $3,607.0 billion the week before. An even broader measure, M3, fell $18.7 billion to $4,233.3 billion from $4,252.0 billion. The narrowest measure, M1, fell to $1,147.4 billion, down $10.7 billion from $1,158.8 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank traveler’s checks. M2 is M1 plus accounts such as savings deposits and money market mutual funds. M3 is M2 plus less-liquid accounts such as certificates of deposit in minimum denominations of $100,000.


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