[Economic Report of the President (2007)]
[Administration of George W. Bush]
[Online through the Government Printing Office, www.gpo.gov]

 
MONEY STOCK, CREDIT, AND FINANCE

Table B-69.--Money stock and debt measures, 1965-2006
[Averages of daily figures, except debt end-of-period basis; billions of dollars, seasonally adjusted]
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M1                   M2                Debt\1\                Percent change
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Sum of currency,                                               From year or 6       From
demand deposits,   M1 plus retail MMMF                        months earlier\2\   previous
Year  and  month                        travelers checks,   balances, savings    Debt of  domestic  -------------------- period\3\
and other      deposits (including      nonfinancial                        ----------
checkable deposits   MMDAs), and small         sectors           M1        M2
(OCDs)           time deposits                                                 Debt
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December:
1965.....................................................               167.8               459.2              1,008.0   ........  ........  .........
1966.....................................................               172.0               480.2              1,075.5        2.5       4.6        6.7
1967.....................................................               183.3               524.8              1,151.5        6.6       9.3        7.1
1968.....................................................               197.4               566.8              1,243.3        7.7       8.0        8.0
1969.....................................................               203.9               587.9              1,330.4        3.3       3.7        7.1

1970.....................................................               214.4               626.5              1,420.2        5.1       6.6        6.8
1971.....................................................               228.3               710.3              1,555.2        6.5      13.4        9.5
1972.....................................................               249.2               802.3              1,711.2        9.2      13.0       10.0
1973.....................................................               262.9               855.5              1,895.5        5.5       6.6       10.7
1974.....................................................               274.2               902.1              2,069.9        4.3       5.4        9.2
1975.....................................................               287.1             1,016.2              2,261.8        4.7      12.6        9.3
1976.....................................................               306.2             1,152.0              2,505.3        6.7      13.4       10.8
1977.....................................................               330.9             1,270.3              2,826.6        8.1      10.3       12.8
1978.....................................................               357.3             1,366.0              3,211.2        8.0       7.5       13.8
1979.....................................................               381.8             1,473.7              3,603.0        6.9       7.9       12.2

1980.....................................................               408.5             1,599.8              3,953.5        7.0       8.6        9.5
1981.....................................................               436.7             1,755.4              4,361.7        6.9       9.7       10.4
1982.....................................................               474.8             1,910.3              4,783.4        8.7       8.8       10.1
1983.....................................................               521.4             2,126.5              5,359.2        9.8      11.3       12.0
1984.....................................................               551.6             2,310.0              6,146.2        5.8       8.6       14.8
1985.....................................................               619.8             2,495.7              7,127.3       12.4       8.0       15.7
1986.....................................................               724.7             2,732.4              7,970.6       16.9       9.5       11.9
1987.....................................................               750.2             2,831.4              8,675.4        3.5       3.6        9.0
1988.....................................................               786.7             2,994.5              9,455.7        4.9       5.8        9.0
1989.....................................................               792.9             3,158.5             10,156.7         .8       5.5        7.2

1990.....................................................               824.7             3,278.6             10,839.4        4.0       3.8        6.5
1991.....................................................               896.9             3,379.1             11,306.1        8.8       3.1        4.3
1992.....................................................             1,024.8             3,432.5             11,821.7       14.3       1.6        4.5
1993.....................................................             1,129.7             3,484.0             12,400.2       10.2       1.5        4.8
1994.....................................................             1,150.3             3,497.5             12,975.3        1.8        .4        4.6
1995.....................................................             1,126.8             3,640.4             13,657.1       -2.0       4.1        5.3
1996.....................................................             1,080.1             3,815.1             14,369.9       -4.1       4.8        5.2
1997.....................................................             1,072.2             4,031.6             15,131.5        -.7       5.7        5.3
1998.....................................................             1,094.9             4,379.0             16,159.7        2.1       8.6        6.8
1999 ....................................................             1,122.9             4,641.1             17,230.5        2.6       6.0        6.4

2000.....................................................             1,087.6             4,920.9             18,091.2       -3.1       6.0        4.9
2001 ....................................................             1,182.1             5,430.3             19,212.1        8.7      10.4        6.3
2002 ....................................................             1,219.5             5,774.1             20,598.8        3.2       6.3        7.2
2003 ....................................................             1,305.5             6,062.0             22,318.7        7.1       5.0        8.2
2004 ....................................................             1,375.3             6,411.7             24,333.0        5.3       5.8        9.0
2005 ....................................................             1,373.2             6,669.4             26,647.1        -.2       4.0        9.5
2006 ....................................................             1,365.7             7,021.0   ...................       -.5       5.3  .........

2005: Jan..................................................             1,365.5             6,415.1   ...................       3.5       4.3  .........
Feb..................................................             1,368.9             6,436.9   ...................       2.1       4.2  .........
Mar..................................................             1,371.6             6,457.4             24,895.3        1.2       3.9        9.2
Apr..................................................             1,358.0             6,466.2   ...................       -.5       3.4  .........
May..................................................             1,367.5             6,481.3   ...................      -1.1       2.7  .........
June.................................................             1,380.9             6,509.1             25,407.0         .8       3.0        8.2
July.................................................             1,368.6             6,532.4   ...................        .5       3.7  .........
Aug..................................................             1,378.5             6,566.7   ...................       1.4       4.0  .........
Sept.................................................             1,379.5             6,599.9             26,020.6        1.2       4.4        9.7
Oct..................................................             1,374.9             6,625.0   ...................       2.5       4.9  .........
Nov..................................................             1,375.9             6,644.7   ...................       1.2       5.0  .........
Dec..................................................             1,373.2             6,669.4             26,647.1       -1.1       4.9        9.6

2006: Jan..................................................             1,378.9             6,713.6   ...................       1.5       5.5  .........
Feb..................................................             1,375.2             6,737.0   ...................       -.5       5.2  .........
Mar..................................................             1,383.8             6,755.8             27,277.4         .6       4.7        9.5
Apr..................................................             1,380.1             6,774.9   ...................        .8       4.5  .........
May..................................................             1,387.3             6,785.7   ...................       1.7       4.2  .........
June.................................................             1,375.5             6,811.1             27,736.1         .3       4.2        6.7
July.................................................             1,371.1             6,835.7   ...................      -1.1       3.6  .........
Aug..................................................             1,371.5             6,863.4   ...................       -.5       3.8  .........
Sept.................................................             1,363.9             6,886.5             28,198.1       -2.9       3.9        6.7
Oct..................................................             1,369.1             6,936.2   ...................      -1.6       4.8  .........
Nov .................................................             1,370.4             6,977.0   ...................      -2.4       5.6  .........
Dec .................................................             1,365.7             7,021.0   ...................      -1.4       6.2  .........
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\1\ Consists of outstanding credit market debt of the U.S. Government, State and local governments, and private nonfinancial sectors.
\2\ Annual changes are from December to December; monthly changes are from 6 months earlier at a simple annual rate.
\3\ Annual changes are from fourth quarter to fourth quarter. Quarterly changes are from previous quarter at annual rate.

Note.--The Federal Reserve announced that the M3 monetary aggregate and most of its components would no longer be published. Institutional money market
mutual funds will continue to be published as a memorandum item in the H.6 release, and the component on large-denomination time deposits will be
published in other Federal Reserve Board releases. For details, see H.6 release of March 23, 2006.

Source: Board of Governors of the Federal Reserve System.