Is Velocity Stable? Part MXXVII

[ad_1] Follow up to Is Velocity Stable? Part MXXVI. With data up to 2023Q4, the answer remains “no”. Figure 1: M2 velocity calculated using GDP (blue), M4 divisia velocity (tan), both in logs, 1990Q1=0. NBER defined peak-to-trough recession dates shaded gray. Source: Federal Reserve, BEA, via FRED, CFS, NBER, and author’s calculations. One would think … Read more