M1 Money Stock
US M1 Money Supply — Historical Chart
$19,832B
▲ 5.79% YoYJun 2026
All-Time High
$20,750B
All-Time Low
$139B
Data Since
1959
Source: FRED / Federal ReserveShaded = NBER recessions
M1 money supply: currency in circulation plus demand deposits and other liquid deposits. The narrowest measure of money actually used in transactions. The 2020-21 COVID stimulus caused M1 to nearly triple in 12 months — from $4T to $20T — the most extreme monetary expansion in US history as stimulus checks, PPP loans, and Fed money creation flooded the economy with liquid assets.