M1 rose $2.9 billion in the week ended May 18.
The increase exceeded the amount expected by many analysts. The Federal Reserve Board said the money supply measure, known as M1, rose to a seasonally adjusted $754.1 billion from a revised $751.2 billion the week before. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. The Fed had originally estimated the previous week’s figure at $750.6 billion.
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