FEDERAL RESERVE ANNOUNCES COLLEGE FED CHALLENGE WINNERS

The following information was released by the Federal Reserve Board:

Pace University won the 22nd 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 New York, New York, represented the New York District and included Suraj Sharma, Giancarlo Raspanti, Gianna Beck, Brooklyn Bynum, and Alex Tuosto, and alternates Tri Nguyen, Kristina Nasteva, Gunnar Freeman, Oliver Ng, Sheira Dery, and Amirkhan Mamatov. The team's adviser was Gregory Colman.

This year's College Fed Challenge included 139 schools from 36 states across the nation. Participating teams 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 teams were invited to the Federal Reserve Board for the national finals. The other national finalists were Harvard College in second place and University of California, Los Angeles in third place. Teams with honorable mentions include University of Pennsylvania, University of Chicago, and Davidson College.

"Fed Challenge offers undergraduate students an opportunity to learn firsthand about monetary policy and the work of the Federal Reserve," said Federal Reserve Chair Jerome H. Powell. "I thank these students for the dedication, creativity, and analytical skills they demonstrated as they grappled with real-world economic challenges."

Teams were evaluated on their economic analysis, responses to the judges' questions, teamwork, and presentations.

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