Old School with M1

Here is another sign of just how extraordinary the recent government and Federal Reserve actions have been; the money supply measured by M1 is up 25% this year (blue line). Also, the Fed's balance sheet has ballooned over 70% this year (orange line).

The chart begins prior to the global financial crisis and highlights a similar move in the fed balance sheet. The money supply increase this year is higher than the GFC. However, this year's actions, for both, have just begun.

Note the steady increase in both M1 and the Fed's balance sheet in the years following the GFC.