Latest Reading
4.29%
Year-over-year growth in the M2 money stock.
Liquidity
Liquidity conditions set the room the market has to breathe.
The liquidity family mixes money-stock growth, balance-sheet direction, and a composite read so tightening can show up before the narrative catches up.
liquidity
M2 Money Stock YoY
Change Windows
1m+0.06
3m-0.04
1y+0.90
Freshness
FRED:M2SLstaleJan 1, 2026
M2 Money Stock YoY history
2016-02-01 to 2026-01-01
Thresholds
expandingLiquidity is expanding quickly.0 pts
moderateLiquidity is expanding at a moderate pace.3 pts
softLiquidity growth is weak.7 pts
contractingLiquidity is contracting year over year.12 pts
Methodology
Computes year-over-year percent change in FRED M2SL.
((M2_t / M2_t_minus_12m) - 1) * 100
M2 is a blunt instrument and should not be interpreted in isolation.
Publication timing is monthly, so it will move more slowly than market indicators.
liquidity
Federal Reserve Balance Sheet YoY
Latest Reading
-1.68%
Year-over-year growth in total Federal Reserve assets.
Change Windows
1m+1.34
3m+3.52
1y+8.70
Freshness
FRED:WALCLstaleMar 11, 2026
Federal Reserve Balance Sheet YoY history
2016-03-16 to 2026-03-11
Thresholds
expandingThe Fed balance sheet is expanding.0 pts
flatThe balance sheet is roughly flat to modestly expanding.4 pts
tighteningThe balance sheet is shrinking modestly.8 pts
contractingThe balance sheet is shrinking quickly.12 pts
Methodology
Computes year-over-year percent change in FRED WALCL.
((WALCL_t / WALCL_t_minus_52w) - 1) * 100
WALCL can move due to temporary facilities and accounting effects.
Weekly frequency can introduce short-term noise.
liquidity
Liquidity Composite v1
Latest Reading
-0.60
Average z-score of M2 YoY and WALCL YoY, used as an explanatory summary.
Change Windows
1m+0.04
3m+0.05
1y+0.24
Freshness
FRED:M2SLstaleJan 1, 2026
FRED:WALCLstaleMar 11, 2026
Liquidity Composite v1 history
2016-02-01 to 2026-01-01
Thresholds
supportiveLiquidity backdrop is supportive.0 pts
neutralLiquidity backdrop is mixed.4 pts
tightLiquidity backdrop is tight.8 pts
Methodology
Averages standardized M2 YoY and WALCL YoY readings as a convenience summary.
average(zscore(m2_yoy), zscore(walcl_yoy))
This is an explanatory metric and should not be overinterpreted.
It does not add extra score weight beyond the liquidity family cap.