Where Data Tells the Story
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The U.S. M2 money supply expanded 4.8% year over year in both July and August 2025, reaching $22.2 trillion—the fastest pace since July 2022. While growth remains below the long-term average of 6.3% (2000–2025), it is still under the combined 5% sum of real GDP growth (2.1% in Q2 2025) and inflation (2.9% in August 2025). The rebound marks a shift from monetary tightening toward renewed expansion, raising questions over future inflationary pressures, credit availability, and broader economic momentum.