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Brookings Institution Senior Fellow Kohn Testifies Before Senate Homeland Security & Governmental Affairs Committee
December 24, 2025
WASHINGTON, Dec. 24 -- The Senate Homeland Security and Governmental Affairs Committee released the following testimony by Donald Kohn, a senior fellow in economic studies at the Brookings Institution, from a Dec. 11, 2025, hearing entitled "The Fed's Big Bank Welfare Program: Oversight of the Fed's IORB Regime." IORB stands for interest on reserve balances.

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Thank you Chairman Paul and ranking member Peters for holding this hearing and inviting . . .

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