You’d think that having a Nobel Prize under your belt would be a clincher for getting a promotion or a job change. But it may not help economist Peter Diamond win a coveted seat on the US Federal Reserve.
Mr Diamond, a professor at the Massachusetts Institute of Technology, won a Nobel Prize in economics with two other economists, American Dale Mortensen and British-Cypriot Christopher Pissar-ides, on Monday.
But Senate Republicans have so far blocked his nomination. Why? They suggest he lacks the experience to serve on the Fed’s board of governors.
Given the partisan rancour that permeates US politics these days, and Republican disdain for some recent Nobel awards, the news from Stockholm won’t necessarily lead to a confirmation nod. —AP