Peter Diamond Wins Nobel Prize, Obama's Fed Nominee
But Senate GOP is holding up his election.
This Nobel is probably only going to hurt him win the approval of Senate Republicans: Peter Diamond, one of the three economists to win a Nobel prize on Monday, was nominated to the Federal Reserve by President Obama, but has not been confirmed because Senate Republicans have held up his nomination. Diamond and his co-winners’ research focuses on gaps between classical economic theory and the real world—for example, why people can have difficulty finding a home to buy even when there are many unsold properties on the market. He was also a mentor to Federal Reserve Chairman Ben Bernanke.
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