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President Barack Obama will resubmit the failed nomination of a Nobel Prize-winning economist to the Federal Reserve, even though he faces stronger opposition from the next Congress.
The nomination of Peter Diamond fizzled when the Senate adjourned Wednesday without acting on it. But the White House said Thursday that the president will press ahead on the nomination.
Diamond, a professor at the Massachusetts Institute of Technology, is an authority on Social Security, pensions and taxation. He shared the Nobel Prize in economics awarded in October. Senate Republicans have opposed his nomination, questioning his practical experience and research.
