Diamond’s Nobel May Ease Confirmation to Fed Governor Position

Peter A. Diamond’s Nobel Prize in economics may weaken Senate Republican opposition to the Massachusetts Institute of Technology professor’s Federal Reserve Board nomination, improving his chances of joining the central bank.

Richard Shelby, the senior Republican on the Banking Committee, in July questioned Diamond’s qualifications on monetary policy, and at least one unidentified senator made a procedural move to send Diamond’s nomination back to the White House in August.