It is critical that we understand the channels, connections, and effects of the role of the dollar. In closing, I want to thank you all for taking the time to join our discussion on the dollar’s international roles. This conference brings together world-class researchers, practitioners, and policymakers dedicated to understanding and addressing these vital issues.
Given our understanding of the risks to LIBOR, the Federal Reserve convened the Alternative Reference Rates Committee (or ARRC) in 2014 in cooperation with the Treasury Department and CFTC.