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Obama Nominates MIT Economist For Fed Job

U.S. President, Barack Obama, has re-nominated economist and Nobel prize winner.

U.S. President, Barack Obama, has re-nominated economist and Nobel prize winner, Peter Diamond, to the Federal Reserve board, The Wall Street Journal reports. Diamond, who has been nominated the third time, was backed twice by the Senate Banking Committee but was denied a full Senate vote.

Obama’s other two nominees to the Fed’s seven-member Board of Governors, Janet Yellen and Sarah Raskin, were confirmed by the Senate in late September 2010. Diamond was initially nominated in April, but the Massachusetts Institute of Technology (MIIT) professor’s qualifications were questioned by several Republican Senators for the Fed job.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.



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