Peter Diamond

Why do so many people remain unemployed amid a large number of job openings? Peter A. Diamond of MIT, Dale T. Mortensen of Northwestern and Christopher A. Pissarides of the London School of Economics provided a Noble Prize-winning answer.

In addition to San Francisco Fed President Janet Yellen, the White House also said its other likely candidates for the open seats on the Fed board were MIT's Peter A. Diamond, an expert on Social Security, and Maryland financial regulator Sarah Bloom Raskin.