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Seasonal Adjustments – Did Money Supply Expand or Contract?

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According to the seasonally adjusted data, M2 expanded by $245B in the latest month as shown in Figure 1. However, when looking at the raw, non-seasonally adjusted M2 data, the money supply contracted by $214B as shown in Figure 2. According to the raw data, this is the largest contraction since Jan 2013. Note: It […]

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