The open market operation makes difference to the movement of monetary market and bond market.

公开市场操作影响了货币市场和债券市场利率的走势；

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The physical operation is complicated, the issues involved are subtle, and the use or abuse of open market operations is hotly disputed.

实际操作非常复杂，所涉及的问题也非常难以捉摸，而且，对开放市场操作的使用或滥用也一直存在激烈的争议。

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Open market operation ofthe central bank can produce a series of macro economy effects: having better control to the total amount of money supply;

中央银行通过公开市场业务操作会产生一系列的宏观经济效果：对货币供应量有较好的控制；

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The issue is not that the Fed creates money with open market operation.

FORBES: 'Quantitative Easing' Is A Toxic Phrase for a Routine Policy

At this stage, when the bank makes a loan, the money supply rises by more than the amount of the open-market operation.

FORBES: How Has The Fed Evolved?

The monetary expansion following an open-market operation involves adjustments by banks and the public. (To find out more, see Formulating Monetary Policy.) The bank in which the original check from the Fed is deposited now has a reserve ratio that may be too high.

FORBES: How Has The Fed Evolved?