Path: utzoo!utgpu!watserv1!maytag!looking!clarinews From: clarinews@clarinet.com Newsgroups: clari.biz.finance,clari.biz.features,clari.biz.top Subject: M1 rose $2.9 billion in week; M2 ahead $9.0 billion Keywords: money supply, money Message-ID: Date: 2 Feb 90 00:01:05 GMT Lines: 21 Approved: clarinews@clarinet.com ACategory: financial Slugword: fed Priority: major Format: feature ANPA: Wc: 234; Id: f2326; Sel: nf--f; Adate: 2-1-655ped; Ver: sked Codes: &ffmfxx. NEW YORK (UPI) -- The narrow definition of the nation's basic money supply known as M1 rose $2.9 billion in the latest reporting week, while the broader aggregates M2 and M3 also grew, the Federal Reserve Board said Thursday. M2 gained $9.0 billion and M3 rose $5.4 billion. M1, which is made up of cash, checking accounts and NOW accounts -- money that is available for immediate spending -- rose to a seasonally adjusted average of $794.1 billion in the week ended Jan. 22 from a revised $791.2 billion the week before. For the latest 13 weeks, M1 averaged $793.0 billion, a 6.0 percent rate of increase from the previous 13 weeks, the Fed reported. The broader measure of money, M2, averaged an estimated $3,226.5 billion in the latest week, up from a revised $3,217.5 billion. M2 includes M1, plus passbook savings, small time deposits, including money market deposit accounts, consumer money market mutual funds and certain other short-term assets. M3, which includes M2 plus large time deposits, repurchase agreements longer than one day at banks and thrifts, and institutional money market funds, averaged $4,044.2 billion in the latest week, up from a revised $4,038.8 billion, the Fed said.