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US Money Supply M0: Monetary Base Historical Trends & Fed Data

Monetary base in United States stood at 5,450 bn USD in Sep 2026, according to Federal Reserve. The latest value is down 0.5% from a year earlier (5,478 bn USD in Sep 2025). Ten years earlier, in Sep 2016, the value was 3,736 bn USD (up 46% since). The highest value since 1959 was 6,413 bn USD in Dec 2021, the lowest 48.4 bn USD in Feb 1961.

Data source: Federal Reserve · Unit: bn USD · Category: Macroeconomics · Explore more indicators on EconDash

Data updated:Last checked:Frequency:MonthlyCoverage:1959–2026
Metadata for Monetary base in United States
IndicatorMonetary base
CountryUnited States
CategoryMacroeconomics
Unitbn USD
SourceFederal Reserve
Interactive chartView on EconDash
API accessEconDash API documentation

Latest value: 5,450 bn USD (2026-09-01)

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Source:Board of Governors of the Federal Reserve System (US) via Federal Reserve — series BOGMBASE
License:U.S. government work, public domain
Cite this chart
APA

Board of Governors of the Federal Reserve System (US). (2026). Monetary base — United States [Data set]. Retrieved November 13, 2026, from EconDash: https://econdash.org/chart/monetary-base/USA. Original source: https://fred.stlouisfed.org/series/BOGMBASE

MLA

Board of Governors of the Federal Reserve System (US). "Monetary base — United States." EconDash, 2026, https://econdash.org/chart/monetary-base/USA. Accessed 13 Nov. 2026. Original source: https://fred.stlouisfed.org/series/BOGMBASE.

Chicago

Board of Governors of the Federal Reserve System (US). 2026. "Monetary base — United States." EconDash. Accessed November 13, 2026. https://econdash.org/chart/monetary-base/USA. Original source: https://fred.stlouisfed.org/series/BOGMBASE.

BibTeX
@misc{econdash_monetary_base_usa,
  author = {{Board of Governors of the Federal Reserve System (US)}},
  title = {{Monetary base --- United States}},
  howpublished = {EconDash},
  year = {2026},
  url = {https://econdash.org/chart/monetary-base/USA},
  note = {Accessed: 2026-11-13. Original source: https://fred.stlouisfed.org/series/BOGMBASE}
}

Frequently Asked Questions

What is the current US M0 money supply?

As of August 2026, the US M0 money supply (monetary base) stands at $5,411.6 billion ($5.41 trillion) according to Federal Reserve data (FRED series BOGMBASE). This represents a 2.0% decrease from $5,523.9 billion in July 2026 and a 4.8% decline year-over-year compared to $5,686.1 billion in August 2025.

What components make up the M0 monetary base in the United States?

The US M0 money supply, commonly known as the monetary base, consists of two primary components: currency in circulation outside the Federal Reserve and the US Treasury, plus total reserve balances maintained by eligible depository institutions at Federal Reserve Banks. M0 serves as the foundational base upon which broader money aggregates like M1 and M2 are built.

How has US M0 money supply changed historically?

Before the 2008 financial crisis, US M0 stood around $830 billion. Federal Reserve quantitative easing programs expanded the monetary base past $4 trillion by 2014, and emergency pandemic liquidity pushed it to an all-time peak of $6,413.1 billion in December 2021. Subsequent quantitative tightening (QT) has reduced the monetary base by over $1 trillion (-15.6%) to $5,411.6 billion in August 2026.

What is the difference between M0, M1, and M2 money supply?

The monetary base (often called M0) consists of currency in circulation plus reserve balances at the Federal Reserve. Under the current Federal Reserve H.6 definitions, M1 consists of currency outside the Treasury, Federal Reserve Banks, and depository institution vaults, demand deposits, and other liquid deposits, including savings deposits. M2 consists of M1 plus small-denomination time deposits (less than $100,000) and retail money market fund balances, with specified retirement-account exclusions.