Reason for the jump was a change in banking regulations. >Recognizing savings deposits as a transaction account as of May 2020 will cause a series break in the

Reason for the jump was a change in banking regulations. >Recognizing savings deposits as a transaction account as of May 2020 will cause a series break in the M1 monetary aggregate. Beginning with the May 2020 observation, M1 will increase by the size of the industry total of savings deposits, which amounted to approximately $11.2 trillion. https://www.federalreserve.gov/releases/h6/h6_technical_qa.htm https://www.federalreserve.gov/releases/h6/h6_technical_qa.h...