by Ryan McMaken
Mises.org
Money-supply growth rose year over year in April, marking the ninth month of growth in a row. As of April, the money supply appears to be continuing into a period of solid monetary growth coming out of a period of historically large swings in monetary trends from early 2020 to mid-2024. Although some critics of Jerome Powell and the Fed have claimed that the Fed is implementing excessively tight monetary policy, the money supply has grown by more than $600 billion since mid-2023.
In April, year-over-year growth in the money supply was at 2.2 percent. That’s up from March’s year-over-year increase of 1.4 percent. April’s increase is also a big change from April 2024 when the year-over-year growth rate was negative 0.4 percent.