Quote:
Before May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other checkable deposits (OCDs), consisting of negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions.
Quote:
Beginning May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other liquid deposits, consisting of OCDs and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and OCDs (before May 2020) or other liquid deposits (beginning May 2020), each seasonally adjusted separately.
eric76 said:
Three peas in a pod.
Not Coach Jimbo said:eric76 said:
Three peas in a pod.
Troll troll troll your boat.
eric76 said:
Dang.
It started ramping up more with Obama, then a giant rise under Trump in 2020, and a lot more climbing under Biden.
Three peas in a pod.
The Federal Reserve is the real issue. Globalist to the core.eric76 said:
Dang.
It started ramping up more with Obama, then a giant rise under Trump in 2020, and a lot more climbing under Biden.
Three peas in a pod.
Is this the cause of inflation?ElKabong said:
So MMT not working? I think it is just Coward-Piven at work.
M1 money supply went from 5 to 20 trillion in less than two years
Having trouble reading graphs? It didn't go down at all during Trump.Marcus Brutus said:eric76 said:
Dang.
It started ramping up more with Obama, then a giant rise under Trump in 2020, and a lot more climbing under Biden.
Three peas in a pod.
Nonsense. It went down $1 trillion during Trump, 25%. Then covid hit and state governments started shutting down businesses.
Uhhhh, YEAH!spacemanspiff said:Is this the cause of inflation?ElKabong said:
So MMT not working? I think it is just Coward-Piven at work.
M1 money supply went from 5 to 20 trillion in less than two years
Marcus Brutus said:eric76 said:
Dang.
It started ramping up more with Obama, then a giant rise under Trump in 2020, and a lot more climbing under Biden.
Three peas in a pod.
Nonsense. It went down $1 trillion during Trump, 25%. Then covid hit and state governments started shutting down businesses.
eric76 said:Having trouble reading graphs? It didn't go down at all during Trump.Marcus Brutus said:eric76 said:
Dang.
It started ramping up more with Obama, then a giant rise under Trump in 2020, and a lot more climbing under Biden.
Three peas in a pod.
Nonsense. It went down $1 trillion during Trump, 25%. Then covid hit and state governments started shutting down businesses.
From the chart on the link, it 3,398.2 billion in January 2017 and was up to 4,020.1 by January 2020. In what magical universe is that a 25% decrease? And covid hitting is no excuse to pull out the stops and increase it to 18,093.7 by January 2021.
According to https://www.cnbc.com/2019/06/28/trump-keeps-talking-about-quantitative-tightening-but-hes-overstating-its-impact.html Trump was furious about the quantitative tightening. And clearly, from the chart, it did not cause a 25% decrease in M1.Marcus Brutus said:eric76 said:Having trouble reading graphs? It didn't go down at all during Trump.Marcus Brutus said:eric76 said:
Dang.
It started ramping up more with Obama, then a giant rise under Trump in 2020, and a lot more climbing under Biden.
Three peas in a pod.
Nonsense. It went down $1 trillion during Trump, 25%. Then covid hit and state governments started shutting down businesses.
From the chart on the link, it 3,398.2 billion in January 2017 and was up to 4,020.1 by January 2020. In what magical universe is that a 25% decrease? And covid hitting is no excuse to pull out the stops and increase it to 18,093.7 by January 2021.
Yes it did. Powell sold almost $1 trillion in treasuries back to the banks during Trump's tenure pre covid. It's called quantitative tightening. Google it.
Yes, covid was real. State governments closed businesses. States can't print money to give out so people don't starve. So Powell reversed and started printing again.
You don't know you are talking about.
Quote:
President Donald Trump has railed repeatedly about the Federal Reserve's "quantitative tightening" and the impact it has had on economic growth during his administration. The program will be over soon, which may not bring as much relief as Trump thinks.
I wish that when they make changes like this that they would publish both the old metric beside the new metric for at least a year so that we can see how the new numbers compare to the old numbers.mickeyrig06sq3 said:
Not sure why they changed the definition in 2020, but that's the reason for the giant spike.Quote:
Before May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other checkable deposits (OCDs), consisting of negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions.Quote:
Beginning May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other liquid deposits, consisting of OCDs and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and OCDs (before May 2020) or other liquid deposits (beginning May 2020), each seasonally adjusted separately.
That's still irrelevant, and you're splitting hairs. The massive vertical increase in the M1 in 2020 was a direct result of the COVID stimulus supported by BOTH parties. It wasn't a Trump policy issue - it was a reaction. Arguments can be made that the amount of stimulus was unwarranted, but that's not on Trump alone, but on DC in general.eric76 said:According to https://www.cnbc.com/2019/06/28/trump-keeps-talking-about-quantitative-tightening-but-hes-overstating-its-impact.html Trump was furious about the quantitative tightening. And clearly, from the chart, it did not cause a 25% decrease in M1.Marcus Brutus said:eric76 said:Having trouble reading graphs? It didn't go down at all during Trump.Marcus Brutus said:eric76 said:
Dang.
It started ramping up more with Obama, then a giant rise under Trump in 2020, and a lot more climbing under Biden.
Three peas in a pod.
Nonsense. It went down $1 trillion during Trump, 25%. Then covid hit and state governments started shutting down businesses.
From the chart on the link, it 3,398.2 billion in January 2017 and was up to 4,020.1 by January 2020. In what magical universe is that a 25% decrease? And covid hitting is no excuse to pull out the stops and increase it to 18,093.7 by January 2021.
Yes it did. Powell sold almost $1 trillion in treasuries back to the banks during Trump's tenure pre covid. It's called quantitative tightening. Google it.
Yes, covid was real. State governments closed businesses. States can't print money to give out so people don't starve. So Powell reversed and started printing again.
You don't know you are talking about.Quote:
President Donald Trump has railed repeatedly about the Federal Reserve's "quantitative tightening" and the impact it has had on economic growth during his administration. The program will be over soon, which may not bring as much relief as Trump thinks.
There actually is a site that analyzes the data to come up with direct a comparison of the data before a change with the data after the change.PaulC_80 said:I wish that when they make changes like this that they would publish both the old metric beside the new metric for at least a year so that we can see how the new numbers compare to the old numbers.mickeyrig06sq3 said:
Not sure why they changed the definition in 2020, but that's the reason for the giant spike.Quote:
Before May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other checkable deposits (OCDs), consisting of negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions.Quote:
Beginning May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other liquid deposits, consisting of OCDs and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and OCDs (before May 2020) or other liquid deposits (beginning May 2020), each seasonally adjusted separately.
Obama changed a lot of metrics to conceal things about economic growth, inflation and the economy in general. It was frustrating and hard to even remember what was changed 6 months or a year ago.
