Shifting Financial Paradigms: LIBOR to SOFR

This chapter explores the evolution of the American financial system, focusing on the transition from LIBOR to SOFR and its implications for U.S. monetary policy. The discussion highlights the historical context of American financial independence from colonial influences and contrasts the power dynamics between U.S. and London markets. Key figures like Jerome Powell and Janet Yellen are examined for their roles in shaping this significant shift towards a more secured financial framework.