Federal Reserve announces College Fed Challenge winners
November 17, 2023
Federal Reserve announces College Fed
Challenge winners
For release at 2:30 p. m. EST
Harvard
College won the 20th annual national College Fed Challenge on Friday,
a team competition that encourages 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 Cambridge, Massachusetts, represented the
Boston District and included Hyuntae Choi, Sam Meacham, Ben Workman,
Megan Yeo, and Dora Ivkovich. The team's adviser was Benjamin
Friedman.
The College Fed Challenge was held virtually in
2023. 107 schools from across the nation submitted video presentations
or participated in local virtual competitions starting on October 5,
2023. Eighteen semi-finalist teams participated in question-and-answer
sessions held during the week of November 6. Six finalists were
selected, and their presentations and questions and answer sessions
were reviewed to determine the winners. The other national finalists
were Princeton University in second place and University of
California, Los Angeles (UCLA) in third place. Teams with honorable
mentions include Columbia University, University of Chicago, and
University of North Carolina Wilmington.
"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. "
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; Brian Doyle,
Deputy Director, Division of International Finance, Board of
Governors; and Robert Tetlow, Senior Adviser, Division of Monetary
Affairs, Board of Governors.
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