M5 is a measure of money that includes M2, plus debt held by the public, less Treasuries owned by the Fed. Here is the current measure:
As of 10/31/2020:
M2 (as of 10/19/20) = 18,815.20
Pub Debt (as of 10/30/20) = 21,097.0
Fed held (as of 10/28/20) = -4,527.2
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Total: 35,385.0
On 9/30/20, this was at 35,296.8, so it is up 88.2 or 0.25%.
For once, we have some good news. This is below the limit of 0.58%, so it is SUSTAINABLE. If every month were like October, there would be nothing to worry about.
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