Senate Homeland Security Committee Ranking Member Peters Issues Opening Statement at Hearing on Fed Big Bank Welfare Program
December 24, 2025
December 24, 2025
WASHINGTON, Dec. 24 -- Sen. Gary Peters, D-Michigan, ranking member of the Senate Homeland Security and Governmental Affairs Committee, released the following opening statement 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 thank you to the witnesses for appearing before the Committee today.
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Thank you, Chairman Paul, and thank you to the witnesses for appearing before the Committee today.
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