Total US stock market vs M2 money supply
Has the broad US stock market grown faster than the money supply?
| Series | First | Latest | Min | Max |
|---|---|---|---|---|
| Total US market (VTI) | 100.0 | 1008.0 | 72.1 | 1008.0 |
| M2 money supply | 100.0 | 445.0 | 100.0 | 445.0 |
- Latest chart point (2026-05-01) predates the newest source observation (2026-07-24); one input series may be lagging.
Index VTI (monthly avg adjusted close) and M2SL to 100 at the shared startVanguard Total Stock Market ETF (VTI, daily adjusted close, Yahoo Finance) versus the M2 money supply (M2SL, billions of dollars, monthly, FRED), both rebased to 100 at their shared start. VTI is averaged to monthly to match M2. This is a price index, not a true market-capitalisation series: it tracks the total US equity market's level rather than the dollar value of all outstanding shares. A VTI line above M2 means equities have outpaced money-supply growth over the window.
- Data through
- May 2026
- Last refreshed
- 24 Jul 2026
- Native frequency
- monthly
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