About liquidity, but how much is it?

I have spoken many times about money in circulation , but since the issue of liquidity is always on the agenda, I wanna to report a news that has been neglected, even if it's important, in my opinion.

The Federal Reserve announced (see release) review of the measures relating to money in circulation and its components, to incorporate the results of the annual adjustment of seasonal factors, monthly and weekly, in addition to a new quarterly benchmark.

The new data (detailed in the release), compared with those published previously and reviewed, have lowered the growth of M2 for the first half of 2008, while they raised it for the second half.

But above all, they led to a surge in the dynamics of growth of M1, or the liquid component of the monetary aggregates, as represented largely by notes and coins issued by the central bank: without any doubt this growth represents the injection of new liquidity into the system by the Fed on which was written several times.

Here's a chart:

It's more than eloquent in itself, I only have to say that it represents an estimate of the growth of the M3 aggregate, which the Fed is not public anymore.

Au revoir

Original post: Liquidità, ma quanta ce n'è?