NOTE: THIS DATA FILE WILL CHANGE! To improve accessibility of data for all users, we will convert this file from a text format to an html table by the end of June 2024. Title: Velocity of MZM Money Stock (DISCONTINUED) Series ID: MZMV Source: Federal Reserve Bank of St. Louis Release: Money Velocity (Not a Press Release) Seasonal Adjustment: Seasonally Adjusted Frequency: Quarterly Units: Ratio Date Range: 1959-01-01 to 2020-10-01 Last Updated: 2024-04-25 9:07 AM CDT Notes: This series has been discontinued and will no longer be updated. The institutional money market funds component (IMFSL (https://fred.stlouisfed.org/series/IMFSL)) used to calculate MZM has been discontinued by the Board of Governors and is no longer available in the H.6 statistical release, Money Stock Measures. For further information about the changes to the H.6 statistical release, please see the announcements (https://www.federalreserve.gov/feeds/h6.html) provided by the source. Calculated as the ratio of quarterly nominal GDP (GDP (https://fred.stlouisfed.org/series/GDP)) to the quarterly average of MZM money stock (MZMSL (https://fred.stlouisfed.org/series/MZMSL)). The velocity of money is the frequency at which one unit of currency is used to purchase domestically- produced goods and services within a given time period. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time. If the velocity of money is increasing, then more transactions are occurring between individuals in an economy. The frequency of currency exchange can be used to determine the velocity of a given component of the money supply, providing some insight into whether consumers and businesses are saving or spending their money. There are several components of the money supply,: M1, M2, and MZM (M3 is no longer tracked by the Federal Reserve); these components are arranged on a spectrum of narrowest to broadest. Consider M1, the narrowest component. M1 is the money supply of currency in circulation (notes and coins, traveler’s checks [non-bank issuers], demand deposits, and checkable deposits). A decreasing velocity of M1 might indicate fewer short- term consumption transactions are taking place. We can think of shorter- term transactions as consumption we might make on an everyday basis. The broader M2 component includes M1 in addition to saving deposits, certificates of deposit (less than $100,000), and money market deposits for individuals. Comparing the velocities of M1 and M2 provides some insight into how quickly the economy is spending and how quickly it is saving. MZM (money with zero maturity) is the broadest component and consists of the supply of financial assets redeemable at par on demand: notes and coins in circulation, traveler’s checks (non-bank issuers), demand deposits, other checkable deposits, savings deposits, and all money market funds. The velocity of MZM helps determine how often financial assets are switching hands within the economy. DATE VALUE 1959-01-01 1.848 1959-04-01 1.866 1959-07-01 1.850 1959-10-01 1.853 1960-01-01 1.890 1960-04-01 1.871 1960-07-01 1.857 1960-10-01 1.812 1961-01-01 1.797 1961-04-01 1.803 1961-07-01 1.816 1961-10-01 1.824 1962-01-01 1.835 1962-04-01 1.824 1962-07-01 1.826 1962-10-01 1.802 1963-01-01 1.792 1963-04-01 1.781 1963-07-01 1.792 1963-10-01 1.789 1964-01-01 1.804 1964-04-01 1.798 1964-07-01 1.796 1964-10-01 1.775 1965-01-01 1.795 1965-04-01 1.800 1965-07-01 1.815 1965-10-01 1.831 1966-01-01 1.860 1966-04-01 1.886 1966-07-01 1.931 1966-10-01 1.965 1967-01-01 1.980 1967-04-01 1.964 1967-07-01 1.965 1967-10-01 1.978 1968-01-01 2.027 1968-04-01 2.065 1968-07-01 2.080 1968-10-01 2.089 1969-01-01 2.123 1969-04-01 2.153 1969-07-01 2.206 1969-10-01 2.223 1970-01-01 2.266 1970-04-01 2.332 1970-07-01 2.345 1970-10-01 2.304 1971-01-01 2.347 1971-04-01 2.325 1971-07-01 2.314 1971-10-01 2.298 1972-01-01 2.325 1972-04-01 2.350 1972-07-01 2.338 1972-10-01 2.348 1973-01-01 2.396 1973-04-01 2.438 1973-07-01 2.456 1973-10-01 2.515 1974-01-01 2.513 1974-04-01 2.559 1974-07-01 2.587 1974-10-01 2.617 1975-01-01 2.599 1975-04-01 2.575 1975-07-01 2.585 1975-10-01 2.614 1976-01-01 2.619 1976-04-01 2.589 1976-07-01 2.586 1976-10-01 2.569 1977-01-01 2.561 1977-04-01 2.596 1977-07-01 2.628 1977-10-01 2.635 1978-01-01 2.638 1978-04-01 2.751 1978-07-01 2.816 1978-10-01 2.908 1979-01-01 3.006 1979-04-01 3.059 1979-07-01 3.093 1979-10-01 3.195 1980-01-01 3.276 1980-04-01 3.345 1980-07-01 3.214 1980-10-01 3.321 1981-01-01 3.540 1981-04-01 3.468 1981-07-01 3.526 1981-10-01 3.442 1982-01-01 3.341 1982-04-01 3.354 1982-07-01 3.315 1982-10-01 3.170 1983-01-01 2.724 1983-04-01 2.637 1983-07-01 2.686 1983-10-01 2.753 1984-01-01 2.793 1984-04-01 2.810 1984-07-01 2.870 1984-10-01 2.842 1985-01-01 2.761 1985-04-01 2.729 1985-07-01 2.693 1985-10-01 2.668 1986-01-01 2.656 1986-04-01 2.563 1986-07-01 2.483 1986-10-01 2.408 1987-01-01 2.377 1987-04-01 2.387 1987-07-01 2.428 1987-10-01 2.491 1988-01-01 2.504 1988-04-01 2.529 1988-07-01 2.570 1988-10-01 2.634 1989-01-01 2.712 1989-04-01 2.788 1989-07-01 2.777 1989-10-01 2.733 1990-01-01 2.736 1990-04-01 2.746 1990-07-01 2.728 1990-10-01 2.686 1991-01-01 2.633 1991-04-01 2.595 1991-07-01 2.577 1991-10-01 2.532 1992-01-01 2.468 1992-04-01 2.442 1992-07-01 2.419 1992-10-01 2.411 1993-01-01 2.416 1993-04-01 2.409 1993-07-01 2.403 1993-10-01 2.414 1994-01-01 2.434 1994-04-01 2.470 1994-07-01 2.509 1994-10-01 2.568 1995-01-01 2.623 1995-04-01 2.641 1995-07-01 2.620 1995-10-01 2.619 1996-01-01 2.603 1996-04-01 2.608 1996-07-01 2.599 1996-10-01 2.595 1997-01-01 2.575 1997-04-01 2.582 1997-07-01 2.567 1997-10-01 2.538 1998-01-01 2.500 1998-04-01 2.450 1998-07-01 2.418 1998-10-01 2.358 1999-01-01 2.319 1999-04-01 2.291 1999-07-01 2.288 1999-10-01 2.293 2000-01-01 2.269 2000-04-01 2.285 2000-07-01 2.259 2000-10-01 2.239 2001-01-01 2.143 2001-04-01 2.064 2001-07-01 1.987 2001-10-01 1.900 2002-01-01 1.870 2002-04-01 1.863 2002-07-01 1.848 2002-10-01 1.815 2003-01-01 1.800 2003-04-01 1.798 2003-07-01 1.793 2003-10-01 1.835 2004-01-01 1.850 2004-04-01 1.838 2004-07-01 1.855 2004-10-01 1.878 2005-01-01 1.917 2005-04-01 1.939 2005-07-01 1.948 2005-10-01 1.951 2006-01-01 1.972 2006-04-01 1.979 2006-07-01 1.970 2006-10-01 1.956 2007-01-01 1.949 2007-04-01 1.924 2007-07-01 1.878 2007-10-01 1.824 2008-01-01 1.753 2008-04-01 1.709 2008-07-01 1.692 2008-10-01 1.623 2009-01-01 1.532 2009-04-01 1.497 2009-07-01 1.500 2009-10-01 1.529 2010-01-01 1.556 2010-04-01 1.586 2010-07-01 1.583 2010-10-01 1.575 2011-01-01 1.565 2011-04-01 1.541 2011-07-01 1.503 2011-10-01 1.498 2012-01-01 1.493 2012-04-01 1.478 2012-07-01 1.461 2012-10-01 1.438 2013-01-01 1.430 2013-04-01 1.420 2013-07-01 1.418 2013-10-01 1.411 2014-01-01 1.389 2014-04-01 1.401 2014-07-01 1.408 2014-10-01 1.392 2015-01-01 1.375 2015-04-01 1.377 2015-07-01 1.366 2015-10-01 1.347 2016-01-01 1.333 2016-04-01 1.321 2016-07-01 1.313 2016-10-01 1.312 2017-01-01 1.311 2017-04-01 1.306 2017-07-01 1.310 2017-10-01 1.318 2018-01-01 1.327 2018-04-01 1.332 2018-07-01 1.337 2018-10-01 1.340 2019-01-01 1.336 2019-04-01 1.335 2019-07-01 1.320 2019-10-01 1.297 2020-01-01 1.246 2020-04-01 0.975 2020-07-01 1.025 2020-10-01 1.022