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公开市场操作是联邦储备系统实施货币政策的主要方式。鉴于公开市场操作由买进和卖出政府公债两个方面所构成，因此要了解货币政策的操作，就必须要了解公债市场是如何运行的。本文所要阐述的重点是财政部，作为公债市场中一个重要参与者的经营方式以及它是如何管理公债的。199
Open market operations are the main form of implementation of monetary policy by the Federal Reserve System. Since open market operations consist of buying and selling government bonds, understanding the operation of monetary policy requires understanding how the public debt market operates. What this article is going to focus on is how the Ministry of Finance operates as an important player in the public debt market and how it manages public debt. 199