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The Federal Reserve System is responsible for tracking the amounts of M1 and M2 and prepares a weekly release of information about the money supply.

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The Federal Reserve System is responsible for tracking the amounts of M1 and M2 and prepares a weekly release of information about the money supply. The table below shows the U.S. money stock components of M1 and M2. Use th to calculate total M1. Round to the third decimal place. Components of M1 and M2 in the U.S. $ trillions Currency $4.000 Individual market mutual fund balances $0.672 Demand deposits and other checking accounts $3.300 Savings accounts $8.637 Traveler's checks $0.005 Time deposits $0.445 Provide your answer below

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