Its not because there is a series break when M1 was redefined in May 2020. See No.5: https://www.federalreserve.gov/releases/h6/h6_technical_qa.htm https://www.

Its not because there is a series break when M1 was redefined in May 2020. See No.5: https://www.federalreserve.gov/releases/h6/h6_technical_qa.htm https://www.federalreserve.gov/releases/h6/h6_technical_qa.h...