"The Obama administration’s effort to fill every vacancy on the Federal Reserve Board is running into more trouble than expected after Senate leaders returned Peter A. Diamond’s nomination to the White House late Thursday. The move means President Obama must renominate Diamond or pick a new candidate. The White House did not immediately comment on its plans, though congressional sources indicated Friday that President Obama was inclined to renominate Diamond. Either way, the Senate Banking Committee must again approve the nomination before it can be considered by the full chamber." Read more. "Senate Rejection of Fed Nominees Slows White House Plan" CQ Politics News, August 6, 2010. Image by Salvatore Vuono / FreeDigitalPhotos.net.