2008-10 is when they were buying but it does not inform us what they were paying.
As you say ... they moved on to buying Treasuries. It is one of the objections to QE which has been raised on these pages over time .... the accusation being leveled at the process is the Fed has been monetizing US government debt.
This after all is the gold forum.... the Fed's actions have become an integral part of the debate.
Everything depends on whether the QE operations finally result in a return to health for the US economy. The debt which the Fed has taken on can not remain indefinitely on its books .... but if the US economy does not begin growing again it is hard for me to see how the QE can be unwound. At some point the 'assets' will become liabilities.
All of these arguments have been put by many others on this forum. As far as I can tell, they are valid concerns and I am noticing, of late, many more people are beginning to voice their scepticism.... not just the die hard, tin foil hat types.
