Release Date: December 2, 2015
For immediate release
Pace University won the 12th annual national College Fed Challenge on Wednesday, a competition that encourages students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. The team, from New York, N.Y., represented the New York Federal Reserve District and included Katherine Craig, Daniella Gambino, Omar Habib, Melissa Navas, and Yuliya Palianok.
The finals were held in the Board Room at the Board of Governors as the capstone to five district competitions held around the country. The other national finalists were second place: The University of North Carolina at Chapel Hill, with honorable mentions for, Bentley University, Northwestern University, and Princeton University. College Fed Challenge is a team competition for undergraduate students. Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee.
"Preparation for Fed Challenge expands students' knowledge of the U.S. economy, monetary policy, and the work of the Federal Reserve," said Federal Reserve Board Chair Janet L. Yellen. "The competition is also intended to foster interest in economics and finance as fields for advanced study and careers."
Teams competing in the College Fed Challenge finals gave 15-minute presentations and answered questions for a panel of judges. Teams were evaluated on economic analysis, responses to judges' questions, teamwork, and presentation. The judges were Ellen Meade, senior adviser in the Division of Monetary Affairs at the Federal Reserve Board; Paolo Pesenti, senior vice president and monetary policy adviser to the president of the Federal Reserve Bank of New York; and John Weinberg, senior vice president and special adviser to the president of the Federal Reserve Bank of Richmond. The teams competed in their local Reserve Bank Districts, and the top teams moved on to the finals in Washington, D.C.
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