You can use the old definitions too and see the same effect: https://gonzoecon.com/wp-content/uploads/2021/04/chart-line-chart-description-automatically-gener-7

You can use the old definitions too and see the same effect: https://gonzoecon.com/wp-content/uploads/2021/04/chart-line-chart-description-automatically-gener-7.jpeg https://gonzoecon.com/wp-content/uploads/2021/04/chart-line-... The change increased M1 by moving common components of M2 downstream into M1. It's why M2 is all anyone should track. And a "definition change" is not in fact the primary reason for a large increase in the money supply in 2020. Smart source: https://fredblog.stlouisfed.org/2021/01/whats-behind-the-recent-surge-in-the-m1-money-supply/ https://fredblog.stlouisfed.org/2021/01/whats-behind-the-rec... Gonzo source: https://gonzoecon.com/2021/04/m1-and-m2-have-changed/ https://gonzoecon.com/2021/04/m1-and-m2-have-changed/