Velocity of MZM Money Stock (DISCONTINUED)

This series has been discontinued and will no longer be updated. The institutional money market funds component (IMFSL (https://fred.stlouisfed.org/series/IMFSL)) used to calculate MZM has been discontinued by the Board of Governors and is no longer available in the H.6 statistical release, Money Stock Measures. For further information about the changes to the H.6 statistical release, please see the announcements (https://www.federalreserve.gov/feeds/h6.html) provided by the source. Calculated as the ratio of quarterly nominal GDP (GDP (https://fred.stlouisfed.org/series/GDP)) to the quarterly average of MZM money stock (MZMSL (https://fred.stlouisfed.org/series/MZMSL)). The velocity of money is the frequency at which one unit of currency is used to purchase domestically- produced goods and services within a given time period. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time. If the velocity of money is increasing, then more