Summary Box: Diamond wins, but fights for Fed job

AP News
|
Posted: Oct 11, 2010 6:56 PM
Summary Box: Diamond wins, but fights for Fed job

CAN A NOBEL PRIZE HELP? Peter Diamond's research on unemployment earned him the Nobel Prize in economics. But he's fighting to win a seat on the Federal Reserve.

STILL WAITING: President Barack Obama nominated Diamond to the Fed in late April. But Senate Republicans have blocked his nomination, questioning his practical experience, as well as the conclusions of his research.

WINNING WORK: Diamond and two other economists were honored for explaining why unemployment can remain high despite large numbers of job openings _ a trend that is playing out today.