Money Supply Falls: The Federal Reserve Board reported that the measure known as M2 fell in the week ended March 6 to a seasonally adjusted $3,618.2 billion, down $2.5 billion from a revised $3,620.7 billion the week before. An even broader measure, M3, fell $1.5 billion to $4,345.9 billion from a revised $4,347.4 billion. The narrowest measure of the money supply, M1, rose to $1,147.7 billion, up $1.7 billion from $1,146 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.
Times Staff and Wire Reports
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