M1 GROWTH M2 GROWTH

Change from 3-months and 12-months earlier Change from 3-months and 12-months earlier
Percent Percent
30 16

25
Change from 14

3-months
12
20

10

15
8

10 6
Feb

5 4

2
0 Change from
Feb
0 12-months Change from
-5
Change from 3-months
-2
12-months
-10
-4

-15 -6
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Source: Federal Reserve Board. 23-Mar-07