FRED official logo. Economic data

Over the past year, the number of US dollars in circulation has grown by 20%. This is by far the largest increase in the money supply in the last 50 years. But where does this money go?

If you’ve fallen into the Bitcoin rabbit hole, you probably already know that the concept of money is not as simple as it seems. Therefore, central banks have a variety of definitions of what makes money. One such definition is the money supply M2.