Add to ORKGGrowth of M1 in 1985 was a record 11.9%, exceeding the previous peak rate of 1983. The odds are that money growth will be rapid again in 1986. Public disclosure of monetary targets by the Federal Reserve started in early 1975. In the eleven years from Q4/74 to Q4/85, M1 growth has averaged 7.6% while the St. Louis monetary base has grown at a 7.9% rate. The Federal Open Market Committee target range for M1 growth was never higher than 7.5% during that entire period. Now, for 1986, the FOMC has set a target range of 3-8%, the widest range and highest upper limit so far. It seems safe to assume M1 growth will continue to be about 8% or somewhat more...The point is, the announced target ranges are not taken seriously by the Fed and should n...