Money Supply Down: All three measures of...

Money Supply Down: All three measures of the nation’s money supply fell in the week ended July 24, the Federal Reserve Board reported. The measure known as M2 fell $1.5 billion to a seasonally adjusted $3,121.2 billion from $3,122.7 billion the previous week. An even broader measure, M3, fell $4.6 billion to $4,004.3 billion from $4,008.9 billion. The narrowest measure of the money supply, M1, fell $1.3 billion to a seasonally adjusted $776.2 billion from $777.5 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2 is M1 plus accounts such as savings deposits and money market mutual funds. M3 is M2 plus less-liquid accounts, such as certificates of deposit in minimum denominations of $100,000.