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BRIEFLY

October 23, 1987

The nation's basic money supply fell $3.7 billion in mid-October, the Federal Reserve reported. The Fed said M1 dropped to a seasonally adjusted $753.7 billion in the week ended Oct. 12 from a revised $757.4 billion the previous week, originally reported at $757.2 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. The central bank monitors the money supply to assure steady, non-inflationary economic growth.

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