M2 continues to accelerate in the most recent money supply report released by the Federal Reserve tonight.
The preliminary November 29th measure stood at $8.812 trillion. Annualized M2 growth over the past 13 weeks was 6.6% vs. annualized growth of 5.5% and 3.1% for the past 26 and 52 weeks. This numbers shows a slight acceleration against last week's money supply report, but weekly fluctuations are typical.
However, the numbers do seem to suggest that the Fed's efforts to reflate are succeeding. Hopefully the current round of quantitative easing efforts will be reconsidered or abandoned altogether.
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