2. Go to www.federalreserve.gov/releases/h6/hist/ and find the historical report of M1, M2, and M3.

Compute the growth rate in each aggregate over each of the last 3 years (it will be easier to do if you move the data into Excel as demonstrated in Chapter 1).

Does it appear that the Fed has been increasing or decreasing the rate of growth of the money supply? Is this consistent with what you understand the economy needs? Why?