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EDIT LINE 1
(a) Velocity of MZM Money Stock, Ratio, Seasonally Adjusted (MZMV)
Calculated as the ratio of quarterly nominal GDP
(https://fred.stlouisfed.org/series/GDP) to the quarterly average of MZM money stock (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.

Velocity of MZM Money Stock

Select a date that will equal 100 for your custom index:
to
(b) MZM Money Stock, Billions of Dollars, Not Seasonally Adjusted (MZMNS)

Select a date that will equal 100 for your custom index:
to

#### Customize data:

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Finally, you can change the units of your new series.

Select a date that will equal 100 for your custom index:

EDIT LINE 2
(a) MZM Money Stock, Billions of Dollars, Not Seasonally Adjusted (MZMNS)
M2 less small-denomination time deposits plus institutional money funds.
Money Zero Maturity is calculated by the Federal Reserve Bank of St. Louis.

MZM Money Stock

Select a date that will equal 100 for your custom index:
to

#### Customize data:

Write a custom formula to transform one or more series or combine two or more series.

You can begin by adding a series to combine with your existing series.

Now create a custom formula to combine or transform the series.
Need help? []

Finally, you can change the units of your new series.

Select a date that will equal 100 for your custom index:

EDIT LINE 3
(a) Consumer Price Index for All Urban Consumers: All items less shelter, Index 1982-1984=100, Seasonally Adjusted (CUSR0000SA0L2)

Select a date that will equal 100 for your custom index:
to

#### Customize data:

Write a custom formula to transform one or more series or combine two or more series.

You can begin by adding a series to combine with your existing series.

Now create a custom formula to combine or transform the series.
Need help? []

Finally, you can change the units of your new series.

Select a date that will equal 100 for your custom index:

EDIT LINE 4
(a) Velocity of MZM Money Stock, Ratio, Seasonally Adjusted (MZMV)
Calculated as the ratio of quarterly nominal GDP
(https://fred.stlouisfed.org/series/GDP) to the quarterly average of MZM money stock (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.

Velocity of MZM Money Stock

Select a date that will equal 100 for your custom index:
to

#### Customize data:

Write a custom formula to transform one or more series or combine two or more series.

You can begin by adding a series to combine with your existing series.

Now create a custom formula to combine or transform the series.
Need help? []

Finally, you can change the units of your new series.

Select a date that will equal 100 for your custom index:

#### Add data series to graph:

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NOTES

Release: Money Velocity

Frequency:  Quarterly

#### Notes:

Calculated as the ratio of quarterly nominal GDP
(https://fred.stlouisfed.org/series/GDP) to the quarterly average of MZM money stock (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.

#### Suggested Citation:

Federal Reserve Bank of St. Louis, Velocity of MZM Money Stock [MZMV], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MZMV, October 22, 2017.

Release: Money Zero Maturity (MZM)

Units:  Billions of Dollars, Not Seasonally Adjusted

Frequency:  Monthly

#### Notes:

M2 less small-denomination time deposits plus institutional money funds.
Money Zero Maturity is calculated by the Federal Reserve Bank of St. Louis.

#### Suggested Citation:

Federal Reserve Bank of St. Louis, MZM Money Stock [MZMNS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MZMNS, October 22, 2017.

Release: Consumer Price Index

Frequency:  Monthly

#### Suggested Citation:

U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All items less shelter [CUSR0000SA0L2], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CUSR0000SA0L2, October 22, 2017.

RELATED CONTENT

## Other Formats

MZM Money Stock

Consumer Price Index for All Urban Consumers: All items less shelter

RELEASE TABLES

Retrieving data.
Updating graph.