M2 fell 0.34 percent in October. This was the largest one-month decline since an outlier drop of 1.27 percent in July 2014. Growth fell slowed to 8.0 percent yoy and 4.4 percent over the past 3 months.
MLF outstanding also fell in October.
Understatement of the Day: The Fed Notes “Lack of Progress” on Inflation
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In addition to the usual Fed boilerplate FOMC statement, today it added
"There has been a lack of further progress toward the Committee’s 2 percent
inflati...
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