OTHER NEWS - July 3, 1992

Money Supply Falls: The Federal Reserve Board reported that the measure of the nation’s money supply, known as M2, fell in the week ended June 22 to a seasonally adjusted $3,454.7 billion from a revised $3,465.3 billion the previous week. An even broader measure, M3, fell to a seasonally adjusted $4,159.2 billion from a revised $4,169.2 billion. The narrowest measure of the money supply, M1, fell to a seasonally adjusted $948.9 billion from a revised $953.1 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2 is M1 plus accounts such as savings deposits and money-market mutual funds. M3 is M2 plus less-liquid accounts, such as certificates of deposit in minimum denominations of $100,000.