[AndyJackson]

click on edit, then go to format tab, then check box for log scale. Voila.

[DoodleBob]

The M1 graph (in fact all graphs, but especially M1) requires an examination of the footnotes, lest the tin foil is brought out.

In short, because in 2Q2020 the Fed dropped the savings account cap of 6 monthly transfers to DDA accounts, M1 was redefined to include savings account.

Thus the massive ramp-up is the result of a ledger entry, not fundamentals. No need to jump.

The monthly YoY % change in M2 averaged 6.8% from 1960-2019, with a few stretches of 10-15% growth in the 70s and early 1980s. The avg from 2020-2021 of 17.9% reflects the 20%+ growth through March 2021 tapering to about 13% more recently.

Keep in mind, M2 creation isn't just the Fed but the result of commercial lending - Dr loans, Cr DDA accounts.

A lot of this money seems to be sitting on the sidelines.