Which political group opposed Peter Diamond's Federal Reserve nomination?
Democrats
Independents
Republicans
Libertarians
Answer
Republicans opposed Peter Diamond's nomination to the Federal Reserve Board due to concerns about his academic background and views on monetary policy. They argued that his research focused primarily on theoretical economic models rather than the practical realities of central banking. Additionally, they raised questions about his support for unconventional monetary policies, such as quantitative easing, which they saw as risky and potentially inflationary.
Diving into Economics: The Peter Diamond Quiz!
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