U.S. Money Supply Off; Fed Funds Rate Higher
The money supply averaged $313.2 billion In the four .veeks ended Feb. 9, down from the $314.1 billion it averaged during the four weeks ended .Ian. 12, the Federal Reserve Board reported.</br></br>The agency said that over the past three months, the money supplyÛÓcurrency in circulation plus checking accountsÛÓhas been growing at an annual rate of 3.9 per cent, below the FedÛªs target rate of 4.5 to 6.5 per cent.</br></br>The federal funds rate, the interest banks charge each other for overnight loans, averaged 4.7 per cent in the week ended Feb. 16, compared with 4.GS per cent- the weeks before.</br></br>Treasury cash holrlngs Treasury deposit* willt F.R. Banks Foreign deposits v/iih F.R. Banks . Other deposits with F.R.</br></br>Ml (Currency plus demand deposits) M2 (Ml ulus time deposits at commercial banks other than large time CD's)