National Fed Challenge
Encyclopedia
The National Fed Challenge is an academic competition that provides high school students (grades 9-12) with an insider's view of how the United States
central bank
, the Federal Reserve, makes monetary policy
.
The Fed Challenge begins with regional and district rounds of competition. Each Fed Challenge team, consisting of three to five students, presents an analysis of the current state of the economy backed by current economic data and a monetary policy recommendation for the Federal Open Market Committee
(FOMC). Following the presentation, judges question each team about their presentation and their knowledge of macroeconomic theory. Federal Reserve Bank economists and officers judge the district competitions.
One Fed Challenge team from each of the four participating Federal Reserve Districts competes at the national competition in Washington, D.C. FOMC members — Federal Reserve Governors and Reserve Bank Presidents — judge the national finals.
The competition was created in 1994 by Lloyd Bromberg, the Director of Education Programs at the New York Fed.
Since its peak in 1998 with ten district participants, the Federal Reserve Challenge participation has shrunk to three district participants (as of 2010). In 2009, the National Finals consisted of Choate Rosemary Hall
(Boston District), Brebuef Jesuit Preparatory Academy (Chicago District), Montclair High School (New York District), and Collegiate School
(Richmond District). The Choate Rosemary Hall Fed Challenge team, who has advanced to the National Finals 11 times, finally won in 2009. The championship team included Daniel Hartsoe, Suril Kantaria, Nikhith Naidu, Adi Rajagopalan, Ali Cooper Ponte and alternate Stephanie Choi. They are led by Coach Ted Hartsoe.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
, the Federal Reserve, makes monetary policy
Monetary policy
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment...
.
The Fed Challenge begins with regional and district rounds of competition. Each Fed Challenge team, consisting of three to five students, presents an analysis of the current state of the economy backed by current economic data and a monetary policy recommendation for the Federal Open Market Committee
Federal Open Market Committee
The Federal Open Market Committee , a committee within the Federal Reserve System, is charged under United States law with overseeing the nation's open market operations . It is the Federal Reserve committee that makes key decisions about interest rates and the growth of the United States money...
(FOMC). Following the presentation, judges question each team about their presentation and their knowledge of macroeconomic theory. Federal Reserve Bank economists and officers judge the district competitions.
One Fed Challenge team from each of the four participating Federal Reserve Districts competes at the national competition in Washington, D.C. FOMC members — Federal Reserve Governors and Reserve Bank Presidents — judge the national finals.
The competition was created in 1994 by Lloyd Bromberg, the Director of Education Programs at the New York Fed.
Since its peak in 1998 with ten district participants, the Federal Reserve Challenge participation has shrunk to three district participants (as of 2010). In 2009, the National Finals consisted of Choate Rosemary Hall
Choate Rosemary Hall
Choate Rosemary Hall is a private, college-preparatory, coeducational boarding school located in Wallingford, Connecticut...
(Boston District), Brebuef Jesuit Preparatory Academy (Chicago District), Montclair High School (New York District), and Collegiate School
Collegiate School (Richmond, Virginia)
Collegiate School is a preparatory school for boys and girls located in Richmond, Virginia. The student body of Collegiate comprises about 1,500 total students from Kindergarten through 12th Grade...
(Richmond District). The Choate Rosemary Hall Fed Challenge team, who has advanced to the National Finals 11 times, finally won in 2009. The championship team included Daniel Hartsoe, Suril Kantaria, Nikhith Naidu, Adi Rajagopalan, Ali Cooper Ponte and alternate Stephanie Choi. They are led by Coach Ted Hartsoe.
Previous Fed Challenge National Champions
- 2010, St. Joseph's High School (South Bend, Indiana), South Bend, Indiana.
- 2009, Choate Rosemary HallChoate Rosemary HallChoate Rosemary Hall is a private, college-preparatory, coeducational boarding school located in Wallingford, Connecticut...
, Wallingford, Connecticut - 2008, Little Rock Central High School, Little Rock, Arkansas
- 2007, Little Rock Central High School, Little Rock, Arkansas.
- 2006, Severn SchoolSevern SchoolSevern School was founded in 1914 by Rolland M. Teel in Severna Park, Maryland, as a preparatory school for the United States Naval Academy. Today, Severn is a day school enrolling boys and girls in grades 6 through 12...
, Maryland. - 2005, Pittsford Mendon High SchoolPittsford Mendon High SchoolPittsford Mendon High School is a public high school in suburban Rochester, Monroe County, upstate New York. It is one of two high schools in the Pittsford Central School District, the other being Pittsford Sutherland High School...
, New York - 2004, Rumson-Fair Haven Regional High SchoolRumson-Fair Haven Regional High SchoolThe Rumson-Fair Haven Regional High School is a regional, four-year comprehensive public high school and school district, serving students in grades 9 through 12 from the suburban Monmouth County, New Jersey, communities of Fair Haven and Rumson...
, New Jersey - 2003, Severn SchoolSevern SchoolSevern School was founded in 1914 by Rolland M. Teel in Severna Park, Maryland, as a preparatory school for the United States Naval Academy. Today, Severn is a day school enrolling boys and girls in grades 6 through 12...
, Maryland - 2002, Maggie L. Walker Governor's School for Government and International StudiesMaggie L. Walker Governor's School for Government and International StudiesThe Maggie L. Walker Governor's School for Government and International Studies is a public regional magnet high school in Richmond, Virginia....
, Virginia - 2001, Montclair High School, New Jersey
- 2000, Midland High SchoolMidland High School (Midland, Texas)Midland High School is a public high school located in Midland, Texas and is part of Midland Independent School District. The original Midland High School was built in 1926 and was moved twenty-three years later to a new building in 1949 where it currently sits today...
, Texas - 1999, University School of MilwaukeeUniversity School of MilwaukeeThe University School of Milwaukee is a private pre-kindergarten through secondary preparatory school located on in River Hills and Milwaukee, Wisconsin...
, Wisconsin - 1998, Bryan High School, Texas
- 1997, Bryan High School, Texas
- 1996, Bryan High School, Texas