📈 U.S. M2 Money Supply-to-GDP Ratio Returns to Pre-Pandemic Norms

The U.S. M2 money supply-to-GDP ratio surged from 70% in Q4 2019 to 91% in Q2 2020 amid aggressive pandemic-era stimulus. By Q1 2025, it had declined to 73%, closely aligning with pre-pandemic levels and signaling a normalization in monetary conditions.