Princeton University won the 21st 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 District and included Bracklinn Williams, Daniel Sozanski, Eleanor Clemens-Cope, Elliot Lee, and William Neumann. The team's advisers were Alan Blinder, Carolyn Wilkins, and William Dudley.
This year's College Fed Challenge included 119 schools from across the nation. Each submitted video presentations or participated in local competitions last month. Eighteen semi-finalist teams then participated in question-and-answer sessions held earlier this month, and six finalists were selected to determine the winners. The other national finalists were Harvard College in second place and University of Virginia in third place. Teams with honorable mentions include University of Michigan, Pace University, and University of Miami.
"Fed Challenge gives undergraduate students a chance to learn about the Fed and monetary policy," said Federal Reserve Chair Jerome H. Powell. "Fed policymakers carefully consider incoming economic data and work together to determine the best policy to pursue our dual mandate goals of maximum employment and price stability. Through the Fed Challenge experience, students go through similar deliberations and gain a better understanding of the economy and the Fed's role in it."
Teams were evaluated on their economic analysis, responses to the judges' questions, teamwork, and presentations. The judges for the final round were Lisheng Su, lead risk management specialist at the Federal Reserve Bank of Chicago; Brian Doyle, deputy director of the Board's Division of International Finance; and Robert Tetlow, a senior adviser in the Board's Division of Monetary Affairs.
