The Federal Reserve has had a close and productive relationship with this committee over the years. If you and your Senate colleagues afford me the opportunity, I look forward to working with you in advancing our shared goal of strengthening the firm foundation upon which the American people have built a prosperous economy and a sound and efficient financial system.
In the future, consideration can be given to disclosure of the nominal effective exchange rate information on a regular basis and to gradually shift the public’s attention on RMB/USD exchange rate to the effective exchange rate of RMB, which is the true reference for its movement. BIS Review 101/2010  3