In fact, we have to encourage use of SOFR in derivatives markets to the fullest extent possible if a robust forward-looking term rate is to be created. For that reason, we also have to find ways to encourage uses of SOFR in those cash markets where it is appropriate.
The Federal Reserve, along with numerous other federal government agencies, is a member of this commission, which is supported by the Office of Financial Education. The Federal Reserve System’s recently redesigned financial education website, FederalReserveEducation.org, is dovetailed to increase the use of Federal Reserve educational materials and promote financial education in the classroom.