The Bretton Woods Committee is an American organization created in 1983 as a result of the agreement between U.S. Secretary of the Treasury, Henry Fowler, and U.S. Deputy Secretary of the Treasury, Charls Walker – at the time a Democrat and a Republican, respectively. The agreement they arrived upon was that world leaders should express to the public the significance of international finance institutions (IFIs), like the Bretton Woods Institutions, and how important it was for their prominence in the world to be maintained. After the 1944 Bretton Woods Conference, the International Monetary Fund and World Bank were established; they are now often referred to as "Bretton Woods Institutions".