November 18, 2022
Federal Reserve announces College Fed Challenge winners
For release at 3:30 p.m. EST
Princeton University won the 19th annual national College Fed Challenge on Friday, a team competition that encourages undergraduate students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee. The team, from Princeton, New Jersey, represented the Philadelphia Federal Reserve District and included Lauren Fahlberg, Noah Harrigan, Shivani Prusty, Shirley (Yilin) Ren, and Richard Zhu. The team's advisers were Alan Blinder, William Dudley, and Carolyn Wilkins.
The College Fed Challenge was held virtually in 2022. Eighty-four schools from across the country submitted video presentations or participated in local virtual competitions starting on October 6, 2022. Eighteen semi-finalist teams participated in question-and-answer sessions held during the week of November 7. Six finalists were selected, and their presentations and questions and answers were reviewed to determine the winners. The other national finalists were University of North Carolina Wilmington in second place and Dartmouth College in third place. Teams with honorable mentions include Colgate University, University of Notre Dame, and University of California-Los Angeles (UCLA).
"We want to encourage people who want to make a difference, at every stage of their careers, to consider public service," said Federal Reserve Board Chair Jerome H. Powell. "These students view the issues we face as a country from their own perspectives, and those fresh views and understanding are valuable."
Teams were evaluated on economic analysis, responses to judges' questions, teamwork, and presentation. The judges for the final round of the competition were: Rick Mattoon,
Vice President and Regional Executive, Federal Reserve Bank of Chicago; Dan Li, Assistant Director, Program Direction, Division of Monetary Affairs; and Robert Tetlow, Senior Adviser, Program Direction, Division of Monetary Affairs.
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