USD is the sum of US dollars in use. It's an amount.
Comparing a rate (defined by an arbitrary local constant) to an amount doesn't make much sense.
I do take issue calling an anual arbitrary. It's a very common denominator used in finances. ie, you pay taxes anually. Don't attempt to tell the government it's arbitrary. To be pedantic, everything is arbitrary, even the value, the amount of, etc of USD, invadating this entire discussion.
As a society we agree upon things. A year is not an arbitrary unit of time.
https://tradingeconomics.com/united-states/money-supply-m1
Personally, I doubt anybody putting much relevance on M1 or M1'. But that's a 20% change in 1 year, what is quite large and probably has had some impact somewhere.
Comparing them is like comparing gallons as a number and speed of a car as a number, and ignoring that speed in mph or km/h or m/s will give different answers. Sure there are relations, but they're not comparable as ratios.