Question: Find the most recent level of M2 (FRED code: M2SL) and of the U.S. population (FRED code: POP). Which usually grows faster: M1 or M2?

Find the most recent level of M2 (FRED code: M2SL) and of the U.S. population (FRED code: POP).

Which usually grows faster: M1 or M2? Produce a graph showing M2 divided by M1. When this ratio rises, M2 outpaces M1 and vice versa. What is the long-run pattern? Is the pattern stable?

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