There are lot's of people claiming that an expansion of the balance sheet (M1) does not lead to an inflation of the monetary supply (M2) since the additional reserves created by the Fed can't be spent by the primary banks that receive them. This fails to account for the fact that the financial institutions that sold the bonds to the primary banks (who in turn sold them to the Fed) did receive spendable currency, and that there are less debt instruments on the market after the purchase than before, creating the space for companies to issue further debt. This chart demonstrates that a significant correlation between the two does in fact exist.
註釋
This chart is useless since M2 includes M1, so you should actually compare M1 with M2-M1.
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。