FYI they do not print money. The US fed gives banks money in exchange for collateral (US govt debt). The banks cannot spend this money, it has to sit there doin

FYI they do not print money. The US fed gives banks money in exchange for collateral (US govt debt). The banks cannot spend this money, it has to sit there doing nothing. The banks do make a small amount of money from the assets they swapped for the money. Eventually the swap is reversed, and if the bank does not return the money then the fed keeps the collateral. The M2 has increased because interest rates are down (on purpose) and more money is being borrowed.