[clari.biz.top] M1 rose $2.9 billion in week; M2 ahead $9.0 billion

clarinews@clarinet.com (02/02/90)

	NEW YORK (UPI) -- The narrow definition of the nation's basic money
supply known as M1 rose $2.9 billion in the latest reporting week, while
the broader aggregates M2 and M3 also grew, the Federal Reserve Board
said Thursday.
	M2 gained $9.0 billion and M3 rose $5.4 billion.
	M1, which is made up of cash, checking accounts and NOW accounts --
money that is available for immediate spending -- rose to a seasonally
adjusted average of $794.1 billion in the week ended Jan. 22 from a
revised $791.2 billion the week before.
	For the latest 13 weeks, M1 averaged $793.0 billion, a 6.0 percent
rate of increase from the previous 13 weeks, the Fed reported.
	The broader measure of money, M2, averaged an estimated $3,226.5
billion in the latest week, up from a revised $3,217.5 billion. M2
includes M1, plus passbook savings, small time deposits, including money
market deposit accounts, consumer money market mutual funds and certain
other short-term assets.
	M3, which includes M2 plus large time deposits, repurchase
agreements longer than one day at banks and thrifts, and institutional
money market funds, averaged $4,044.2 billion in the latest week, up
from a revised $4,038.8 billion, the Fed said.