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![HanifBayat Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::949369311189139462.png) Hanif Bayat [@HanifBayat](/creator/twitter/HanifBayat) on x 10.8K followers
Created: 2025-07-16 19:22:10 UTC

During a monetary contraction, the central bank’s balance sheet may shrink—but this doesn’t necessarily mean the broader money supply (such as M2 or M3) is decreasing.

For example, as shown here, even during periods of quantitative tightening, M3 continued to grow:


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945564633487872267/c:line.svg)

**Related Topics**
[$2413t](/topic/$2413t)
[m2](/topic/m2)
[central bank actions](/topic/central-bank-actions)
[money](/topic/money)
[balance sheet](/topic/balance-sheet)
[economic downturn](/topic/economic-downturn)

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