The #fed also started buying treasuries during the war, something that moved it from "real bills" which was the original premise put together by people like Henry Parker Hills. This caused the gov't to have a piggy bank to...
You are viewing a single comment's thread from:
The Fed came into being in 1913. As early as 1920s (maybe earlier) it moved away from its core mission & N2 setting interest rates & buying securities. The Fed was supposedly created to stop panics; they increased in frequency & magnitude.