About the M2 money supply
M2 is a broad measure of the US money supply: cash, checking and savings deposits, small time deposits under $100,000 and retail money market fund shares. The Federal Reserve publishes it monthly, seasonally adjusted.
M2 grew more than 25% in the year to February 2021, the fastest since the series began in 1959, then shrank in 2022–2023 for the first time in decades. Its link to inflation is debated, but large swings get attention from investors.
M2 Money Supply by year
| Year | Average | High | Low | December / latest |
|---|---|---|---|---|
| 2026 (to Sep) | $22.92T | $23.41T | $22.39T | $23.41T |
| 2025 | $21.94T | $22.33T | $21.51T | $22.33T |
| 2024 | $21.11T | $21.46T | $20.81T | $21.46T |
| 2023 | $20.85T | $21.26T | $20.71T | $20.75T |
| 2022 | $21.59T | $21.77T | $21.27T | $21.27T |
| 2021 | $20.55T | $21.49T | $19.38T | $21.49T |
| 2020 | $17.70T | $19.12T | $15.43T | $19.12T |
| 2019 | $14.86T | $15.35T | $14.46T | $15.35T |
| 2018 | $14.14T | $14.39T | $13.90T | $14.39T |
| 2017 | $13.62T | $13.89T | $13.32T | $13.89T |
| 2016 | $12.89T | $13.24T | $12.52T | $13.24T |
| 2015 | $12.07T | $12.39T | $11.81T | $12.39T |
| 2014 | $11.41T | $11.72T | $11.13T | $11.72T |
| 2013 | $10.75T | $11.06T | $10.50T | $11.06T |
| 2012 | $10.07T | $10.49T | $9.75T | $10.49T |
| 2011 | $9.28T | $9.68T | $8.84T | $9.68T |
| 2010 | $8.65T | $8.82T | $8.47T | $8.82T |
| 2009 | $8.43T | $8.52T | $8.28T | $8.51T |
| 2008 | $7.80T | $8.20T | $7.51T | $8.20T |
| 2007 | $7.31T | $7.48T | $7.12T | $7.48T |
| 2006 | $6.88T | $7.08T | $6.73T | $7.08T |
| 2005 | $6.54T | $6.69T | $6.43T | $6.69T |
| 2004 | $6.27T | $6.42T | $6.08T | $6.42T |
| 2003 | $5.99T | $6.11T | $5.81T | $6.07T |
| 2002 | $5.60T | $5.78T | $5.46T | $5.78T |
| 2001 | $5.21T | $5.44T | $4.98T | $5.44T |
| 2000 | $4.79T | $4.93T | $4.67T | $4.93T |
| 1999 | $4.52T | $4.64T | $4.40T | $4.64T |
| 1998 | $4.21T | $4.38T | $4.06T | $4.38T |
| 1997 | $3.93T | $4.03T | $3.83T | $4.03T |
Monthly values. The last 30 years are shown; the chart above has the full history since January 1959.
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Frequently asked questions
What is the current M2 money supply?
The M2 money supply was $23.41T in September 2026, up 5.7% from a year earlier, according to the Board of Governors of the Federal Reserve System.
What was the highest M2 money supply on record?
Since January 1959, the highest reading was $23.41T in September 2026 and the lowest was $0.29T in January 1959.
Where does this data come from?
The numbers are published by the Board of Governors of the Federal Reserve System and distributed by the Federal Reserve Bank of St. Louis in FRED (series M2SL). They are US government statistics in the public domain. Quotelinks checks for new data every day.
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