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September/October 2003, 
Vol. 85, No. 5
Posted 2003-09-01

A Reconstruction of the Federal Reserve Bank of St. Louis Adjusted Monetary Base and Reserves

by Richard G. Anderson, Robert H. Rasche, and Jeffrey Loesel

The St. Louis Fed has a long tradition of monetarism—focusing on the role of money and how much of it is out there. This article retools the way money in the economy is measured and notes what changed.