Back on Friday, November 7, 2014, I wrote THE SECRETS OF AUTOMATED CLEARINGS, GDP AND THE ECONOMY. RECOVERY? WHEN? In that work, I explained the significance of banking automated clearings.
Since then, I've automated the data gathering to support these rather important charts.
The ACH action has looked horrible for years now in True Dollars™ terms. If the economy were at least in a steady state of neither declining or advancing, commercial ACH clearings would at least would be flat. 2014 looked like we were getting there.
Even though the Fed Res behind-the-curtains wizards of greenbacks ended Quantitative Easing back in Q4 2014, don't bet on those wizards raising interest rates rising for a long time to come.