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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November 17, 2023