×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Fed Nominee

Obama Re-nominates Nobel Prize Winner to Fed

Thursday, 06 January 2011 08:30 AM

President Barack Obama has re-nominated a Nobel Prize-winning economist to the Federal Reserve despite opposition from Senate Republicans.

The president's initial nomination of Peter Diamond fizzled when the Senate adjourned in late December without acting on it. Obama on Wednesday resubmitted nomination to the newly convened Senate, where Republicans now hold six additional seats. That likely will make Diamond's confirmation even more difficult.

A professor at the Massachusetts Institute of Technology, Diamond is an authority on Social Security, pensions and taxation. He shared the Nobel Prize in economics that was awarded in October. Senate Republicans have questioned his practical experience and research.

Diamond was tapped to fill one vacancy on the seven-member Federal Reserve Board. If confirmed, he would take part in decisions affecting employment, economic growth and inflation.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


StreetTalk
President Barack Obama has re-nominated a Nobel Prize-winning economist to the Federal Reserve despite opposition from Senate Republicans.The president's initial nomination of Peter Diamond fizzled when the Senate adjourned in late December without acting on it. Obama on...
Fed Nominee
129
2011-30-06
Thursday, 06 January 2011 08:30 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved