NATION: On Friday, the Federal Reserve announced the results of a competitive event involving the College Fed Challenge team competition. Today, the Fed announced the winners of the 2023 competition thaT encourages students to become abreast of significant information about the US economy, the monetary policymaking and the role played by the Federal Reserve in the US economic spectrum.
By Michelle Crawford-Sapenter
" All of those who competed should be commended for the hard work and skill needed to advance in the competition," said Federal Reserve Board Chair Jerome H. Powell. "It is great to see bright young minds motivated to learn about the role monetary policy plays in promoting a healthy economy."--Fed College Challenge Spokesperson
An Announcement made in regard to the Fed College Challenge describes a situation involving teams in the analysis of economic and financial conditions and instructs the teams to formulate a monetary policy recommendation that models the Federal Reserve Open Market Committee.
According to the report, a Colegerate team from Cambridge Massachusetts , Boston District was well represented by Hyuntae Choi, Sam Meacham, Ben Workman, Megan Yeo, and Dora Ivkovich. and advisor, Benjamin Friedman.
During the competition, 107 colleges competed for the first place award. Video presentations were submitted from students at colleges across the United States and those who participated at the local level.
Among the participants, only 18 college teams rose to the status of semi-finals. Each of the semi finalists responded to questions and answers enabling the winners in that round to move forward to the finals. Among the 18, only 6 moved to the final round from which Princeton University and UCLA won in the finals competition. Honorabl;e mention was presented to Columbia University, University of Chicago, and University of North Carolina Wilmington.
Judges in the competition, Rick Mattoon, Vice President and Regional Executive, Federal Reserve Bank of Chicago; Brian Doyle, Deputy Director, Division of International Finance, Board of Governors; and Robert Tetlow, Senior Adviser, Division of Monetary Affairs, Board of Governors, judged student competitors in areas of economic analysis, responses to judges' questions, teamwork, and presentation.
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