What are the components of the M1 money supply in the United States?

Government bonds and certificates of deposits (CDs) are considered part of the broader money supply but do not fit within M1. Bonds are long-term investments and CDs are time deposits that typically require a fixed term before funds can be accessed, making them less liquid compared to the components of M1.

Debt cards and credit cards are payment instruments that facilitate transactions but do not constitute actual money. While debt cards draw from accounts that may be part of M1, credit cards represent a line of credit rather than a direct component of the money supply, as they do not reflect liquid assets.

Savings deposits and time deposits are included in the broader M2 money supply but not in M1. They are considered less liquid because they cannot be accessed immediately without penalties or restrictions, distinguishing them from the components of M1 that facilitate immediate spending.