From May 2nd 2022 to May 1st 2023, M2 Money Supply Contracted by 4.6%

From May 2^nd, 2022 to May 1^st, 2023, M2 money supply contracted 4.6% from $21.6 trillion to $20.6 trillion. Over this same period, the US Federal Reserve hiked the federal funds rates by 450 basis points. Additionally, the Fed implemented a 25 basis point rate hike on May 3^rd, 2023.