The M2 money supply is completely worthless. It includes the reserves the Fed "prints" which are place on the balance sheets of depository banks but do not leave the Fed. Hence, whatever it prints can not be used for electricity, rent, wages, or stock buybacks.
So what is going to happen to the VoM when trillions are housed at the Fed as reserves and cant move? It will drop.
This is also why the idea of the "inflation" being caused by the Fed is utterly asinine. What it prints doesnt enter the economy and the commercial banking system expanding the USD supply by only 2.5% from April 2020 through Dec 2021.
RE: The U.S. Dollar isn't used as often as it once was to buy goods and services.