In conclusion, the Federal Reserve has taken a range of actions to stabilize financial markets and to help borrowers and communities. Taken together, these measures should help rebuild confidence in the financial system, increase the liquidity of financial markets, and improve the ability of financial institutions to raise capital from private sources.
Being the first of its kind in the region, it is my hope that the two-day Conference will stimulate vigorous debate and allow the sharing of diverse opinions to address some of the financial and economic challenges facing our Pacific Islands. I congratulate all our researchers who will be presenting their work during the conference.