The U.S. money supply has contracted for the first time since the Federal Reserve started publishing the data in January 1960.
According to the latest data presented by the Board of Governors of the Federal Reserve System, the M2 money-supply growth rate tumbled by 1.3 percent year-over-year in December 2022, down from 0.01 percent in November 2022. This is also sharply down from the February 2021 peak of nearly 27 percent.
