The nation’s basic money supply (M1) fell...

The nation’s basic money supply (M1) fell $1.1 billion in mid-February, while a broader measure, M2, rose by $6.3 billion, the Federal Reserve Board reported. M1 fell to a seasonally adjusted $759.9 billion in the week ended Feb. 17 from $761 billion the previous week. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2, made up of M1 and such accounts as savings deposits and money market mutual funds, rose to a seasonally adjusted average of $2,945.7 billion. This compared with a revised $2,939.4 billion the previous week, which was originally reported as $2,939.9, the Fed said.