Track U.S. M2 money supply and growth with official Federal Reserve data and historical charts since 1959
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Explore U.S. money supply and its growth
U.S. M2 Money Supply
A broad measure of U.S. money balances. Levels are nominal, seasonally adjusted monthly averages published by the Federal Reserve. $23.41T · Sep 2026.
M2 money supply history
Latest 12 monthly observations
Interactive chart requires JavaScript. Monthly values are listed below.
Monthly observations · Hover, tap or use the arrow keys to inspect values.
Monthly M2 observations
Latest 12 months
| Month | M2 amount | Monthly growth | Annual growth |
|---|---|---|---|
| Sep 2026 | $23.41T | +0.48% | +5.71% |
| Aug 2026 | $23.30T | +0.53% | +5.60% |
| Jul 2026 | $23.18T | +0.43% | +5.36% |
| Jun 2026 | $23.08T | +0.42% | +5.30% |
| May 2026 | $22.98T | +1.11% | +5.37% |
| Apr 2026 | $22.73T | +0.50% | +4.53% |
| Mar 2026 | $22.61T | +0.18% | +4.42% |
| Feb 2026 | $22.57T | +0.83% | +4.59% |
| Jan 2026 | $22.39T | +0.26% | +4.06% |
| Dec 2025 | $22.33T | +0.34% | +4.04% |
| Nov 2025 | $22.25T | +0.14% | +3.84% |
| Oct 2025 | $22.22T | +0.33% | +4.28% |
Monthly M2 Growth
The percentage change in seasonally adjusted M2 from the preceding calendar month. Positive values show monthly expansion; negative values show contraction. +0.48% · Sep 2026.
M2 growth history
Latest 12 monthly observations
Interactive chart requires JavaScript. Monthly values are listed below.
Monthly observations · Hover, tap or use the arrow keys to inspect values.
Monthly M2 observations
Latest 12 months
| Month | M2 amount | Monthly growth | Annual growth |
|---|---|---|---|
| Sep 2026 | $23.41T | +0.48% | +5.71% |
| Aug 2026 | $23.30T | +0.53% | +5.60% |
| Jul 2026 | $23.18T | +0.43% | +5.36% |
| Jun 2026 | $23.08T | +0.42% | +5.30% |
| May 2026 | $22.98T | +1.11% | +5.37% |
| Apr 2026 | $22.73T | +0.50% | +4.53% |
| Mar 2026 | $22.61T | +0.18% | +4.42% |
| Feb 2026 | $22.57T | +0.83% | +4.59% |
| Jan 2026 | $22.39T | +0.26% | +4.06% |
| Dec 2025 | $22.33T | +0.34% | +4.04% |
| Nov 2025 | $22.25T | +0.14% | +3.84% |
| Oct 2025 | $22.22T | +0.33% | +4.28% |
Annual M2 Growth
The percentage change in seasonally adjusted M2 from the same month one year earlier. This is money-stock growth, not the CPI inflation rate. +5.71% · Sep 2026.
M2 growth history
Latest 12 monthly observations
Interactive chart requires JavaScript. Monthly values are listed below.
Monthly observations · Hover, tap or use the arrow keys to inspect values.
Monthly M2 observations
Latest 12 months
| Month | M2 amount | Monthly growth | Annual growth |
|---|---|---|---|
| Sep 2026 | $23.41T | +0.48% | +5.71% |
| Aug 2026 | $23.30T | +0.53% | +5.60% |
| Jul 2026 | $23.18T | +0.43% | +5.36% |
| Jun 2026 | $23.08T | +0.42% | +5.30% |
| May 2026 | $22.98T | +1.11% | +5.37% |
| Apr 2026 | $22.73T | +0.50% | +4.53% |
| Mar 2026 | $22.61T | +0.18% | +4.42% |
| Feb 2026 | $22.57T | +0.83% | +4.59% |
| Jan 2026 | $22.39T | +0.26% | +4.06% |
| Dec 2025 | $22.33T | +0.34% | +4.04% |
| Nov 2025 | $22.25T | +0.14% | +3.84% |
| Oct 2025 | $22.22T | +0.33% | +4.28% |
M2 expansion & historical records
Nominal, seasonally adjusted levels across the available history. Records and growth rates can change when the Fed revises its data.
M1 vs. M2 comparison
M1 is the narrower money aggregate. M2 adds other qualifying balances and is broader. M1: $20.06 trillion USD · M2: $23.41 trillion USD · Sep 2026.
M1 and M2 history
Latest 12 monthly observations
Interactive comparison requires JavaScript.
Seasonally adjusted monthly levels · M2 in blue, M1 in amber.
Source: Board of Governors of the Federal Reserve System — H.6 · Monthly, seasonally adjusted · Source checked twice daily
Methodology & data notes
Levels are the Fed’s seasonally adjusted monthly averages, originally in billions of dollars. The observation date represents the month, not a daily closing balance. Values are stored at the source precision of $0.1 billion. Charts show USD trillions or growth percentages to two decimal places; tooltips also disclose M2 in billions.
Monthly growth = (M2 / M2 one month earlier − 1) × 100. Annual growth uses the same month twelve months earlier. These are not annualized monthly rates and do not measure CPI inflation. All chart periods use line charts and retain individual monthly observations. Green indicates positive growth, red negative growth, and zero remains neutral; these colours do not imply an investment signal. Hover anywhere within a chart, tap or use arrow keys to inspect the nearest month; missing initial growth rates stay unavailable.
Data are generally published on the fourth Tuesday of each month, with holiday exceptions. Observation month and verification time are separate. Full history is reloaded during each successful check, so published revisions update both levels and calculations. May 2020 changed the M1 definition; the July 2026 IRA/Keogh netting change revised seasonally adjusted M2 slightly. The tracker uses the latest official series and does not splice older vintages.
M2 is not the monetary base, the federal debt or a measure of newly printed banknotes. Higher M2 alone does not predict inflation or gold and silver prices. See U.S. real yields and breakeven inflation for other macroeconomic indicators.
Independent Silver Dominion tool. Not affiliated with or endorsed by the Federal Reserve. Data are attributed to the Board under its public-domain website policy. No Federal Reserve seal, logo or third-party image is reproduced. Charts and exports are created locally. No API key, paid data subscription, visitor cookies or tracking are used.
U.S. M2 Money Supply and Growth Trends
The U.S. M2 Money Supply Tracker brings together official Federal Reserve data, historical charts and monthly comparisons in one place. Explore seasonally adjusted M2 money supply levels since 1959, follow monthly and annual growth, and identify periods when the money supply expanded or contracted.
The three indicators distinguish the amount of M2 from the pace at which it changes. A high money-stock level can coincide with slowing growth, while a monthly decline can occur even when M2 remains above its level a year earlier. Reading these measures together provides a clearer picture than looking at the latest amount alone.
Charts show the broader trend, while the table provides a detailed view of the latest 12 available months. Historical records add context, and the M1 comparison highlights the difference between the two aggregates. Monthly data can also be downloaded for further research.
For gold and silver investors, M2 provides monetary context alongside U.S. real yields and market-based inflation expectations. It does not provide a standalone price forecast.
The figures represent monthly averages rather than daily balances. Observation months and source verification times are displayed separately, and successful checks incorporate revisions to earlier data.
Frequently Asked Questions
What is U.S. M2 money supply?
M2 is a broad measure of U.S. money balances. It includes M1 and additional qualifying balances, such as small time deposits and retail money market funds, with adjustments for certain retirement accounts. It measures more than physical cash in circulation.
Where does the M2 tracker get its data?
The tracker uses official monthly data from the Federal Reserve Board’s H.6 Money Stock Measures release. M2 and M1 levels are seasonally adjusted. Silver Dominion calculates the growth rates, comparisons and historical records.
How often is U.S. M2 money supply updated?
The Federal Reserve generally publishes H.6 on the fourth Tuesday of each month, with possible holiday adjustments. This tracker checks the source twice daily. The observation month identifies the period covered, while the verification time shows when the source was last successfully checked.
What is the difference between monthly and annual M2 growth?
Monthly growth compares M2 with the preceding calendar month. Annual growth compares it with the same month one year earlier. M2 can fall in a particular month while remaining higher than a year earlier. The monthly growth rate shown here is not annualized.
Why does M1 rise sharply in May 2020?
The Federal Reserve changed the definition of M1 to include savings deposits beginning in May 2020. This creates a break in the historical M1 series. The jump should not be interpreted as ordinary monthly growth, and the reclassification did not increase M2.
Does rising M2 mean gold and silver prices will increase?
Not necessarily. M2 growth provides monetary context, but precious metals also respond to real yields, inflation expectations, the U.S. dollar, investment flows and physical demand. M2 alone is neither a price forecast nor a measure of consumer price inflation.
Can I download the data, and can historical figures change?
Yes. You can download the monthly history as CSV and save the selected chart as SVG. The Federal Reserve may revise earlier observations. Successful source checks incorporate those revisions and recalculate growth rates using the updated history.