You’re right and I both misread and misremembered which definition changed. The better graph to look at is the money base. https://fred.stlouisfed.org/series/

You’re right and I both misread and misremembered which definition changed. The better graph to look at is the money base. https://fred.stlouisfed.org/series/BOGMBASE https://fred.stlouisfed.org/series/BOGMBASE