M1 fell by $1 billion in the week ended June 15.
The nation’s basic money supply, which is also known as M1, declined to a seasonally adjusted $744.8 billion in the second week of June, from a revised $745.8 million the week before, the Federal Reserve Board reported. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. For the latest 13 weeks, M1 averaged $748.8 billion, a 6.1% seasonally adjusted annual rate of gain from the previous 13 weeks.
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