Peter Diamond, Held Up in Senate for Fed Post, Wins Nobel
Some very just desserts on this Columbus Day morning: Peter Diamond, a lauded economist at MIT, won the Nobel Prize, along with Dale T. Mortensen and
Jul 31, 2020122K Shares1.9M Views
Some very just desserts on this Columbus Day morning: Peter Diamond, a lauded economist at MIT, won the Nobel Prize, along with Dale T. Mortensen and Christopher A. Pissarides. The three economists won for their examination of “markets with search frictions.” In Diamond’s case, he focused on labor markets and unemployment.
But Diamond remains held up in the Senate confirmation process for a Federal Reserve seat, due to the objections of Republican senators over his qualifications. Again, they have questions about whether Diamond, who once taught Fed Chairman Ben Bernanke economics and now has won a Nobel prize, is qualified.
Here’s Sen. Richard Shelby (R-Ala.) on Diamond this summer: “I do not believe he’s ready to be a member of the Federal Reserve Board. I do not believe that the current environment of uncertainty would benefit from monetary policy decisions made by board members who are learning on the job.”
Paolo Reyna
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Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies.
Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most.
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