The only caveat is that the slump in September was led by non-intermediate OFCs (which can be erratic).
But the underlying trends are alarming too. The 12m growth of household #M4 is at its lowest since records began in September 1998 – and the 3m ann rate is even weaker! (2/2) pic.twitter.com/cpEl5jX5kH
— Julian Jessop (@julianHjessop) October 30, 2023
🇺🇸 US M2 money supply -3.58% YoY.
In #recession and #depression territory! pic.twitter.com/EXWniNBrUu
— Alex Joosten (@joosteninvestor) October 27, 2023