M1 money supply went through an even sharper increase during the same period. As of June 2023, the value of M2 money supply in the United States amounted to roughly 20.9 trillion U.S. dollars.
The M2 money supply in the United States decreased monthly between July 2022 and April 2023, after a period of sharp increase starting in February 2020. The unusually sharp increase in 2020 and 2021 was a result of the Federal Reserve's quantitative easing in response to the COVID-19 pandemic. The Monthly value of M2 money stock in the United States from January 2002 to June 2023 (in billion U.S. dollars)
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Federal Reserve. (July 26, 2023). Monthly value of M2 money stock in the United States from January 2002 to June 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved May 15, 2024, from https://www.statista.com/statistics/1121054/monthly-m2-money-stock-usa/
Federal Reserve. "Monthly value of M2 money stock in the United States from January 2002 to June 2023 (in billion U.S. dollars)." Chart. July 26, 2023. Statista. Accessed May 15, 2024. https://www.statista.com/statistics/1121054/monthly-m2-money-stock-usa/
Federal Reserve. (2023). Monthly value of M2 money stock in the United States from January 2002 to June 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: May 15, 2024. https://www.statista.com/statistics/1121054/monthly-m2-money-stock-usa/
Federal Reserve. "Monthly Value of M2 Money Stock in The United States from January 2002 to June 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 26 Jul 2023, https://www.statista.com/statistics/1121054/monthly-m2-money-stock-usa/
Federal Reserve, Monthly value of M2 money stock in the United States from January 2002 to June 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1121054/monthly-m2-money-stock-usa/ (last visited May 15, 2024)
Monthly value of M2 money stock in the United States from January 2002 to June 2023 (in billion U.S. dollars) [Graph], Federal Reserve, July 26, 2023. [Online]. Available: https://www.statista.com/statistics/1121054/monthly-m2-money-stock-usa/