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 5/31/21:
M2 (as of 4/01/21) = 20,108.6
Public Debt (as of 5/28/21) = 22,020.9
Fed Held (as of 5/26/21) = -5,087.2
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Total = 37,042.3
On 4/30/21, this was at 36,937.8 and on 9/30/20 it was at 35,296.8. This is up 104.5 during May and up 1,745.5 fiscal year to date, which is an annual inflation rate of 7.1%. This is sustainable for the 4th month in a row.
I expected a huge jump in M2 which didn't happen, but the M2 is reported 2 months in arrears so this may show up next month. The Public Debt actually dropped in May, which is very unusual.
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