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Wait, you're suggesting they're fudging the numbers? Well that couldn't be true, right? Right... The only metric that truly matters is base money, checkout nostr:nprofile1qqsw4m6evhlz0qj02ekw86657dc5nm3gunvgk4ux0r4qyz6h2ywkk7gprpmhxue69uhhyetvv9ujucm4wfex2mn59en8j6f0qy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qgewaehxw309aex2mrp0yh8xmn0wf6zuum0vd5kzmp0qn0m9j work.

He mentioned something about this on his most recent appearance on TFTC.

nostr:nprofile1qqsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncpzamhxue69uhhyetvv9ujuurjd9kkzmpwdejhgtcpzemhxue69uhkummnw3ezumtpd35kutn0dekz7qg4waehxw309ahx7um5wfekzarkvyhxuet59ur8ttc0

The new metric is also going climbing pretty fast. Time for another "adjustment"

I think the answer to “why they removed it” is found in the “looks like it was going vertical” observation 🤣

Savings deposits were reclassified from a non-M1 component of M2 into M1 itself. Since M2 ⊃ M1 that change isn't actually reflected in the M2 chart. You can see the M1 chart ~triple overnight when the change was made: https://fred.stlouisfed.org/series/M1SL

Ah ha! thanks, that makes sense since deposits these days are use like physical cash. All I found one of the few ~non-sneaky~ things the Fed has done lately. 🧐