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The value of M1 money supply in the U.S. amounted to 18.1 trillion U.S. dollars in 2023, which was a slight decrease compared to the previous year. While between 2000 and 2019, the M1 money supply increased at a slow pace, there was an exceptionally sharp increase in 2020, which was the result of the Federal Reserve's quantitative easing in response to the COVID-19 pandemic. The sharpest increase took place in May 2020, when the M1 money supply was increased from 4.8 to 16.2 trillion U.S. dollars.

Value of M1 money stock in the United States from 2000 to 2023 (in billion U.S. dollars)

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Release date

March 2024

More information

Region

United States

Survey time period

2000 to 2023

Special properties

as of December each year

Supplementary notes

The source adds the following information: M1 consists of currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of deposatory institutions; demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and other liquid deposits, consisting of other checkable deposits (or OCDs, which comprise negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions) and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and other liquid deposits, each seasonally adjusted separately.

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