In the 20th annual national College Fed Challenge, Harvard College emerged as the winner. This team competition aims to educate students about the U.S. economy, monetary policymaking, and the Federal Reserve System’s role. Participating teams analyze economic and financial conditions to formulate a monetary policy recommendation, simulating the Federal Open Market Committee. The victorious team, hailing from Cambridge, Massachusetts, represented the Boston District and comprised Hyuntae Choi, Sam Meacham, Ben Workman, Megan Yeo, and Dora Ivkovich, with Benjamin Friedman serving as their adviser.
In 2023, the College Fed Challenge took place as a virtual event. Starting from October 5, 2023, 107 schools from across the country submitted video presentations or participated in local virtual competitions. From these submissions, 18 semi-finalist teams were selected for question-and-answer sessions during the week of November 6. Amongst these semi-finalists, six finalists were chosen, and their presentations and question-and-answer sessions were evaluated to determine the winners. Princeton University secured second place, followed by the University of California, Los Angeles (UCLA) in third place. Honorable mentions were given to Columbia University, the University of Chicago, and the University of North Carolina Wilmington.
Federal Reserve Board Chair Jerome H. Powell expressed admiration for all the participants’ hard work and skills required to excel in the competition. He highlighted the enthusiasm of young minds in learning about the vital role of monetary policy in promoting a thriving economy.
Teams were assessed based on their economic analysis, responses to judges’ questions, teamwork, and presentation. The final round of the competition was scrutinized by judges Rick Mattoon, Vice President and Regional Executive at the Federal Reserve Bank of Chicago; Brian Doyle, Deputy Director of the Division of International Finance at the Board of Governors; and Robert Tetlow, Senior Adviser in the Division of Monetary Affairs at the Board of Governors.
Read the original Federal Reserve release here.