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 The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

, the

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

, makes

monetary policy Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often a ...

. 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 The Federal Open Market Committee (FOMC), a committee within the Federal Reserve System (the Fed), is charged under United States law with overseeing the nation's open market operations (e.g., the Fed's buying and selling of United States Treas ...

(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. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

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).

Previous Fed Challenge National Champions

*2010, St. Joseph's High School, South Bend, Indiana *2009, Choate Rosemary Hall, Wallingford, Connecticut *2008,

Little Rock Central High School Little Rock Central High School (LRCHS) is an accredited comprehensive public high school in Little Rock, Arkansas, United States. The school was the site of forced desegregation in 1957 after the U.S. Supreme Court ruled that segregation by ...

, Little Rock, Arkansas *2007, Little Rock Central High School, Little Rock, Arkansas *2006,

Severn School Severn School was founded in 1914 by Roland M. Teel in Severna Park, Maryland, as a preparatory school for the United States Naval Academy. In 2013, Severn School merged with nearby Chesapeake Academy. Currently the school enrolls boys and girl ...

, MarylandSevern School Wins the Fed Challenge National Championship

Federal Reserve Bank of Richmond The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the Federal Reserve located in Richmond, Virginia. It covers the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia ...

News Release, dated May 2, 2006. *2005,

Pittsford Mendon High School Pittsford 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. Pittsford Men ...

, New York *2004, Rumson-Fair Haven Regional High School, New Jersey *2003,

, Maryland *2002, Maggie L. Walker Governor's School for Government and International Studies, Virginia *2001, Montclair High School, New Jersey *2000, Midland High School, Texas *1999,

University School of Milwaukee The University School of Milwaukee (often abbreviated to USM) is an independent pre-kindergarten through secondary preparatory school in River Hills and Milwaukee, Wisconsin. It was founded as the result of the merger of three schools, Milwa ...

, Wisconsin *1998, Bryan High School, Texas *1997, Bryan High School, Texas *1996, Bryan High School, Texas

References

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External links

1st District (Boston) Fed Challenge4th District (Cleveland) Fed Challenge5th District (Richmond) Fed Challenge7th District (Chicago) Fed Challenge
Federal Reserve System

Previous Fed Challenge National Champions

See also

References

External links