The Fed Challenge is an annual inter collegiate competition sponsored by the Eastern Economic Association and the Federal Reserve Bank. The objective is to promote understanding of the Federal Reserve System and monetary policy. Each team prepares a 20 minute presentation acting as the FOMC, with the second half of the adjudication being a 15 minute question and answer period.
This year’s competition had a record 36 teams participating, including Pace University, Rutgers Newark, Rutgers New Brunswick, Fordam University, SUNY Binghamton, SUNY Oneonta, City College of New York, and St. Johns.
The Queensborough Team received superior or exceptional ratings in each of the four adjudication categories: Knowledge of the Fed; Response to questions; Presentation; and Research and Analysis. The team met on weekends evenings preparing and rehearsing for the competition.
In light of the Fed’s recent announcement of the QE2, the Team recommended additions to the Fed’s current policy to incent financial institutions to establish mortgage and personal credit renegotiation, and another to incent them to establish programs to help small and medium sized business.
Faculty advisors: Ed Hanssen, Steve Hammel, Linda Meltzer, Ben Murolo and Chris Mooney