We're now seeing the first time the money supply has actually contracted since the 1990s. The last time the year-over-year change in the money supply slipped into negative territory was in November of 1994.
During May 2022, year-over-year (YOY) growth in the money supply was at 6.97 percent. That's down from April's rate of 7.25 percent, and down from May 2021's rate of 15.4 percent. The growth rate peaked in February 2021 at 23.12 percent.