[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] -------------------------------------------------------------------------------------------------------------------------------------------------------- M1 M2 Debt\1\ Percent change -------------------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------------------------------------------------------------------------------- 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 ......... -------------------------------------------------------------------------------------------------------------------------------------------------------- \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.