Board of Governors of the Federal Reserve System

Pace University won the 18th annual national College Fed Challenge on Friday, a competition that encourages students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. The team, from New York, New York, represented the New York Federal Reserve District and included Fiona Waterman, Yuwei Liu, Kate Fong, Casey Cloutier, Christopher Beck, Gianni Campanaro (alternate), and Stephanie Ertel (alternate). The team's advisers were Gregory Colman and Mark Weinstock.

The College Fed Challenge was held virtually in 2021. Seventy-four schools from across the nation submitted video presentations or participated in local virtual competitions starting on October 8, 2021. College Fed Challenge is a team competition for undergraduate students. Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee.

Eighteen semi-finalist teams participated in question-and-answer sessions held during the week of November 8, and six finalists were selected and their presentations and questions and answers reviewed to determine the winners. The other national finalists were second place: University of Pennsylvania; third place: Dartmouth College; with honorable mentions for The George Washington University, University of California-Los Angeles (UCLA) and The University of Wisconsin-Madison.

"I want to congratulate everyone for their hard work, particularly the winners and runners-up," said Federal Reserve Board Chair Jerome H. Powell. "Many of you will consider joining the economics profession. Whatever path you choose, I encourage you to consider public service as an important part of the careers that lie ahead for you."

Teams were evaluated on economic analysis, responses to judges' questions, teamwork, and presentation. The judges for the final round of the competition were: Antulio Bomfim, Special Adviser to the Board, Monetary Affairs; Brian Doyle, Deputy Director, International Finance; Rick Mattoon, Vice President and Regional Executive, Federal Reserve Bank of Chicago; and Maggie Sklar, Senior Policy Advisor and Director of International Engagement, Financial Markets Group, Federal Reserve Bank of Chicago.

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