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Politics : Ask Michael Burke

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To: Skeeter Bug who wrote (37766)	11/29/1998 7:26:00 PM
From: Tommaso	Read Replies (1) of 132070

Here's the site for weekly money figures. If you will scroll down you'll see the percentage growth. M1 used to be considered important, but because banks sweep cash into savings deposits every day, it has lost its usefulness as a measure of how much buying power is available. M2 seems best to me because a large part of it is very liquid. It's now going up at a rate of around 12% a year. By the way, though, a story in the WSJ a week or so ago says that the Fed is actually planning to print an extra $50 billion in notes in case people are spooked by Y2K rumors and want their deposits in cash next year at any time. If anything like that happened M1 would take a huge jump.

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