Economics, Econometrics and Finance
3 years ago

SOFR outshines LIBOR, shaping Federal Reserve's influence on market rates.

SSRN Electronic Journal
The SOFR and the Fed's Influence Over Market Interest Rates
Ivan Indriawan, Feng Jiao, Yiuman Tse

Paper Summary

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The SOFR is a new benchmark rate for lending in US dollars, replacing LIBOR. It aligns more closely with the Federal Reserve's policy target and is more responsive in influencing short-term market rates compared to LIBOR. This shows the advantages of the SOFR over its predecessor.