Money supply · United States
United States Money Supply
The United States Money Supply measures the amount of money in the economy of the United States: cash and current accounts (M1), plus savings and time deposits (M2), plus broader instruments such as money-market funds and repos (M3 or M4). Balance-sheet and reserve figures show the central bank's own money.
- Importance
- Low
- Released
- Monthly
- Next release
- Currency
- USD · US dollar
- Central bank
- The Federal Reserve
Latest figures
The latest release for SEP, published on 27 October 2026, came in at $23.41T.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 27 Oct 2026 | SEP | $23.41T | – | $23.34T |
| 22 Sep 2026 | AUG | $23.34T | – | $23.22T |
| 25 Aug 2026 | JUL | $23.22T | – | $23.15T |
| 23 Jun 2026 | MAY | $23.05T | – | $22.80T |
| 26 May 2026 | APR | $22.80T | – | $22.69T |
| 28 Apr 2026 | MAR | $22.69T | – | $22.63T ® |
| 24 Mar 2026 | FEB | $22.65T | – | $22.44T |
| 24 Feb 2026 | JAN | $22.44T | – | $22.4T |
| 27 Jan 2026 | DEC | $22.4T | – | $22.3T |
| 23 Dec 2025 | NOV | $22.3T | – | $22.3T |
| 25 Nov 2025 | OCT | $22.3T | – | $22.21T |
| 28 Oct 2025 | SEP | $22.21T | – | $22.11T ® |
Why it matters
Money growth was once a direct target of central banks; today it is read as a signal of lending, spending and future inflation, and of how loose or tight the Federal Reserve's policy really is (quantitative easing shows up here first).
How it is calculated
Banks report their deposits to the central bank, which adds them up by category; the figure is usually shown as the change from a year earlier.
M1 = currency + overnight deposits
M2 = M1 + short-term savings and time deposits
M3 = M2 + repos, money-market funds and short debtWhat changes mean
- Fast money growth with an economy near full capacity is a warning of inflation to come.
- Shrinking money (as in 2023 in several countries) signals tight credit.
- Markets usually react little; it matters for the medium-term picture.
A short history
Milton Friedman's monetarism made money supply the centre of policy in the 1970s and early 1980s ("inflation is always and everywhere a monetary phenomenon"). Its link with inflation proved unstable and central banks moved to interest-rate targets.
Questions
What is the United States Money Supply?
The United States Money Supply measures the amount of money in the economy of the United States: cash and current accounts (M1), plus savings and time deposits (M2), plus broader instruments such as money-market funds and repos (M3 or M4). Balance-sheet and reserve figures show the central bank's own money.
What was the latest United States Money Supply?
$23.41T for SEP, published on 27 October 2026.
When is the next United States Money Supply?
On Tuesday 24 November 2026 at 18:00 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.