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M2 (M2NS)

Observations

Feb 2025: 21,616.3
Updated: Mar 25, 2025 12:01 PM CDT
Feb 2025:  21,616.3  
Jan 2025:  21,642.5  
Dec 2024:  21,649.5  
Nov 2024:  21,464.5  
Oct 2024:  21,266.0  

Units:

Billions of Dollars,
Not Seasonally Adjusted

Frequency:

Monthly

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Notes

Title Release Dates
M2 Money Stock 1996-12-12 2021-02-22
M2 2021-02-23 2025-03-25
 
Source    
Board of Governors of the Federal Reserve System (US) 1996-12-12 2025-03-25
 
Release    
H.6 Money Stock, Liquid Assets, and Debt Measures 1996-12-12 1998-12-09
H.6 Money Stock and Debt Measures 1998-12-10 2002-05-01
H.6 Money Stock Measures 2002-05-02 2025-03-25
 
Units    
Billions of Dollars 1996-12-12 2025-03-25
 
Frequency    
Monthly 1996-12-12 2025-03-25
 
Seasonal Adjustment    
Not Seasonally Adjusted 1996-12-12 2025-03-25
 
Notes    
For consistency, values have been rounded to one decimal place and therefore may differ slightly from values in the H.6. press release.

Further information and definitions are available at: http://research.stlouisfed.org/publications/mt/.

1996-12-12 2006-03-08
M2 includes a broader set of financial assets held principally by households. M2 consists of M1 plus: (1) savings deposits (which include money market deposit accounts, or MMDAs); (2) small-denomination time deposits (time deposits in amounts of less than $100,000); and (3) balances in retail money market mutual funds (MMMFs).

2006-03-09 2021-02-22
Before May 2020, M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000) less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market funds (MMFs) less IRA and Keogh balances at MMFs.

Beginning May 2020, M2 consists of M1 plus (1) small-denomination time deposits (time deposits in amounts of less than $100,000) less IRA and Keogh balances at depository institutions; and (2) balances in retail MMFs less IRA and Keogh balances at MMFs. Seasonally adjusted M2 is constructed by summing savings deposits (before May 2020), small-denomination time deposits, and retail MMFs, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.

For more information on the H.6 release changes and the regulatory amendment that led to the creation of the other liquid deposits component and its inclusion in the M1 monetary aggregate, see the H.6 announcements (https://www.federalreserve.gov/feeds/h6.html) and Technical Q&As (https://www.federalreserve.gov/releases/h6/h6_technical_qa.htm) posted on December 17, 2020.

2021-02-23 2024-09-23
announcements (https://www.federalreserve.gov/feeds/h6.html) and Technical Q&As (https://www.federalreserve.gov/releases/h6/h6_technical_qa.htm) posted on December 17, 2020.

For questions on the data, please contact the data source (https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/releases/h6/%). For questions on FRED functionality, please contact us here (https://fred.stlouisfed.org/contactus/).

2024-09-24 2025-03-25

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M2 Money Stock H.6 Money Stock Measures Monetary Aggregates Board of Governors Monthly Nation Public Domain: Citation Requested Not Seasonally Adjusted United States of America