U.S. M2 Money Supply Recently Grew at the Fastest Pace Seen in 3 Years. It Could Be an Ominous Sign With Inflation at 3.4%.
Yahoo Finance ·
Inflation continues to be an issue for the Federal Reserve, so much so that the Federal Open Market Committee (FOMC) just raised the federal funds rate for the first time in three years. In August, inflation clocked in 3.4% higher year over year on a seasonally adjusted basis, according to the Consumer Price Index (CPI). Excluding more volatile food and energy prices, core CPI rose 2.4%. That's not where the Fed would like it, but it's a far cry from when the CPI surpassed 9% in 2022, marking the highest inflation in 40 years. While inflation has made progress, it has not shown clear progress toward the Fed's 2% target this year. And in July, the U.S. M2 money supply grew at the fastest level seen in three years. It could be an ominous sign for inflation .
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