Econintersect: Did you know the United States Treasury conducted large scale asset purchasing prior to the creation of the Federal Reserve? A new Chicago Fed study looks at the period between 1870 and 1913 where the U.S. Department of the Treasury engaged in a number of refundings and sinking fund purchases.
[click here to read the entire study]
Source: http://www.chicagofed.org/digital_assets/publications/economic_perspectives/2013/4Q2013_part2_chabot_herman.pdf
