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Money Supply Shrinks for the First Time. What It Says About Inflation and the Economy.

Money Supply Shrinks for the First Time. What It Says About Inflation and the Economy.

The growth of M2—a measure of money supply in the economy that includes currency in circulation, balances in retail money-market funds, and savings deposits, and more—showed a decline in December. The money supply growth rate for last month was a negative 1.3% versus a year ago, the lowest ever and marking the first-ever decline in M2 based on all data available. The Federal Reserve faces a momentous decision next week.