File:Money Supply - M1 - Nov 08.png

• Federal Reserve money supply data is available at: Fed H6 Release
• For Wikipedia's article see Money supply
• For Fed's overview see Fed explanation of money supply

During a January 2009 speech, Fed Chairman Ben Bernanke described the strategy of lending against various types of collateral as "Credit Easing" and explained the risks of inflation as follows: "Some observers have expressed the concern that, by expanding its balance sheet, the Federal Reserve is effectively printing money, an action that will ultimately be inflationary. The Fed's lending activities have indeed resulted in a large increase in the excess reserves held by banks. Bank reserves, together with currency, make up the narrowest definition of money, the monetary base; as you would expect, this measure of money has risen significantly as the Fed's balance sheet has expanded. However, banks are choosing to leave the great bulk of their excess reserves idle, in most cases on deposit with the Fed. Consequently, the rates of growth of broader monetary aggregates, such as M1 and M2, have been much lower than that of the monetary base. At this point, with global economic activity weak and commodity prices at low levels, we see little risk of inflation in the near term; indeed, we expect inflation to continue to moderate." See Bernanke Speech - January 13 2009

I, the copyright holder of this work, hereby publish it under the following licenses:

This work is licensed under the Creative Commons Attribution-ShareAlike 3.0 License. https://creativecommons.org/licenses/by-sa/3.0/CC-BY-SA-3.0Creative Commons Attribution-ShareAlike 3.0truetrue

Permission is granted to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1.2 or any later version published by the Free Software Foundation; with no Invariant Sections, no Front-Cover Texts, and no Back-Cover Texts. GFDL GNU Free Documentation License //en.wiki.x.io/wiki/Wikipedia:Text_of_the_GNU_Free_Documentation_License

You may select the license of your choice.

This file is a candidate to be copied to Wikimedia Commons. Any user may perform this transfer; refer to Wikipedia:Moving files to Commons for details. If this file has problems with attribution, copyright, or is otherwise ineligible for Commons, then remove this tag and DO NOT transfer it; repeat violators may be blocked from editing. Other Instructions Endorse this file for transfer by adding |human=<your username> to this Template. If this file is freely licensed, but otherwise unsuitable for Commons (e.g. out of Commons' scope, still copyrighted in the US), then replace this Template with {{Do not move to Commons|reason=<Why it can't be moved>}} If you think that a local copy of this file should be retained, then replace this Template with {{Keep local|reason=<Why a local copy is needed>}} Please ensure that the file has a properly descriptive and unambiguous name before transferring; see Wikipedia:File mover#What files should be renamed? for details.

This file was suggested for transfer by a bot (User:Fbot). Please verify that this file is suitable for Commons before transferring it.