In other words, if the FOMC announces that it wants the Federal Funds rate to be 4 percent rather than the existing 5 percent, the amount of open market purchases needed to achieve this target is likely a range rather than a point estimate.

FORBES: Allow Interest Rates To Rise While Keeping Monetary Policy Accommodative

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?

Nifty 4600 put options have the maximum amount of open interest of any Nifty index option contract as of close of market on Thursday.

FORBES: Locals Shorting India Stock Market

The amount of money the Fed directly creates through the buying of bonds in the open market--the measure called M1--has ballooned (see chart).

FORBES: Fact and Comment