CAMBRIDGE, Mass.—Harvard College has won the 20th annual national College Fed Challenge, the Federal Reserve-sponsored competition that encourages students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System.
According to the Fed, teams analyzed economic and financial conditions and formulated a monetary policy recommendation, modeling the Federal Open Market Committee. The team from Harvard 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 Oct. 5, 2023.
The Fed said 18 semi-finalist teams participated in question-and-answer. 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 UCLA in third place. Teams with honorable mentions include Columbia University, University of Chicago, and University of North Carolina Wilmington.
How Teams Were Evaluated
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, VP-regional executive, Federal Reserve Bank of Chicago; Brian Doyle, deputy director, Division of International Finance, Federal Reserve, and Robert Tetlow, senior adviser, Division of Monetary Affairs with the board of governors.
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