Monetary Base

Currency in circulation plus bank reserves, the Fed's narrowest money measure.

Monetary Base is part of the Liquidity category. Financial conditions indexes are the Fed's dashboard. The Chicago Fed's NFCI blends over 100 inputs spanning equity volatility, credit spreads, funding stress, and leverage. Real yields across the TIPS curve reveal the true cost of capital after inflation, while liquidity measures (reverse repo, TGA, reserves) show whether the system is flush or stressed. Together they form the transmission belt from policy rate to real economy.

Monetary Base is updated once per month when the releasing agency publishes new data. Each metric page on Convex shows the exact time of the last data update and provides historical data going back up to five years.

Convex sources Monetary Base data from the Federal Reserve Economic Data (FRED) API, maintained by the Federal Reserve Bank of St. Louis. Data is fetched automatically and displayed alongside interactive charts, AI analysis, and historical context.

The Monetary Base page includes an interactive chart with selectable time ranges (1 month to 5 years), percentage changes over multiple timeframes, a table of recent readings, AI-generated analysis, and links to related metrics and comparisons.