GDP, M2 and Monetary Base

The GDP is growing at a reasonable rate. The details will also be important as well as employment in a week. Two Quarters of positive growth and the rate is fine.

The Monetary Base also is growing but its rate has slowed as would be expected based upon the FED actions.

M2 also is growing. Note that in seven years we have seen almost a 50% increase in M2 and under normal terms this should have resulted in higher inflation. Perhaps the $4.5 trillion on the FED's BA may push that along, perhaps not.