During April 2022, year-over-year money supply growth was at 7.23 percent. That's down from March's rate of 7.41 percent and April 2021's rate of 36.8 percent.
Paul Krugman recently wrote that the reason we see high inflation is that people mistakenly believe inflation is in our future and act accordingly. This reasoning is false.
Even with November's small rise, money supply growth is far below the unprecedented highs experienced during the past two years. This points to a weakening economy.
During August 2021, year-over-year (YOY) growth in the money supply was at 8.2 percent. That's down from July's rate of 8.9 percent, and down from the August 2020 rate of 37.5 percent.
During May 2021, year-over-year (YOY) growth in the money supply was at 15.3 percent. That's down from April's rate of 23.1 percent, and down from the May 2020 rate of 29.5 percent.
During March 2021, year-over-year (YOY) growth in the money supply was at 34.1 percent. That's down slightly from February's rate of 39.1 percent, and up from the March 2020 rate of 11.3 percent.
During February 2021, year-over-year growth in the money supply was 39.1 percent. That makes February the eleventh month of remarkably high growth in the wake of unprecedented quantitative easing and "stimulus."
In January, money supply growth hit a new all-time high, rising slightly above September 2020's previous high, and remaining well above growth levels that one year ago would have been considered unthinkable.
During October 2020, year-over-year (YOY) growth in the money supply was at 37.08 percent. That's down slightly from September's rate of 37.54 percent, and up from October 2019's rate of 4.8 percent.
During August 2020, year-over-year (YOY) growth in the money supply was at 37.56 percent. That's up from July's rate of 36.92 percent, and up from August 2019's rate of 1.86 percent.
