Sunday, April 20, 2008
It's been two years since the Federal Reserve discontinued reporting of the M3 Money Supply statistic. Supposedly, it was too expensive to maintain and provided no useful information for formulating monetary policy.
Apparently, it can be done for a lot less than they were paying - at least that's the working assumption since websites such as NowAndFutures.com don't seem to be going broke doing it.
As for whether it provides any useful information, that is apparently very subjective. It looks useful to me and probably goes a long way in explaining why prices are now soaring everywhere but in the government's inflation statistics.