Diamond, Obama's Fed Pick, Shares Nobel Economic Prize

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Oct. 11 (Bloomberg) -- Peter Diamond, an economics professor at the Massachusetts Institute of Technology and President Barack Obama's choice for a post on the Federal Reserve Board, is one of three co-winners of the 2010 Nobel Prize in Economic Sciences. Diamond shares the prize with Dale Mortensen and Christopher Pissarides for research into the difficulties of matching supply and demand, particularly in the labor market. Diamond's Fed nomination is subject to confirmation by the Senate. Bloomberg's Peter Cook reports. (Source: Bloomberg)

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