Look at excess reserves at the Fed. https://fred.stlouisfed.org/series/EXCSRESNS...

		refurb on June 26, 2023 \| parent \| context \| favorite \| on: Corporate profits account for almost half the incr... Look at excess reserves at the Fed. https://fred.stlouisfed.org/series/EXCSRESNS 2.8T dollars being held at the Fed. It never entered circulation.