Adjusted Monetary Base: Mid-July, 2010

Gary North

July 19, 2010

Here is the most recent chart of the adjusted monetary base. This is published by the Federal Reserve Bank of St. Louis.

The direction since late February has been down. In recent weeks, it has been flat. There is no sign of "quantitative easing."

This has been confirmed by the consumer price index, which was down 0.1% in June. The Median CPI, which I favor over the CPI (less volatile), was up by 0.1%. The difference was meaningless. The price indexes are flat. This is published by the Federal Reserve Bank of Cleveland.