Monday, April 24, 2006

Some key statistics - M3 is back

Some key statistics: "M3 is back
We did some sleuthing and data extraction and put M3 back together from various weekly Federal Reserve reports that are still available.

The formula we're using has five 9s correlation to the original data back to 1980.

There is only one missing element that is apparently no longer available (Eurodollars) and an adjustment has been applied to generate it. Its only about 3% of total M3 so should not have a material effect on the total.

Here is a very little known Fed press release that tells more of the real story with M3, and on which we based the idea and concept of the reconstruction. "

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