April 24, 2007

Severn School to Represent Fifth Federal Reserve District in National Fed Challenge Competition

Richmond, VA

The Severn School, located in Severna Park, Md., won the Fifth District championship round of the 2007 Fed Challenge competition held at the Federal Reserve Bank of Richmond on April 24. This year's winning team included Alex Fu, Dylan McNamara, Kathy Little, Matt Quinn, Emily Viohl, Brady Hill (alternate), and was coached by John Bodley.

As the Fifth District winner, Severn advances to the National Finals to be held in Washington, D.C., May 19-21. District winners from seven Federal Reserve Banks will compete before a panel of judges that traditionally has included Bank presidents, members of the Board of Governors, as well as other Federal Reserve officials. It is customary for the Federal Reserve chairman to make an appearance.

Also participating in the final round was Millbrook High School of Raleigh, N.C., which won the Charlotte Branch's preliminary round on March 29, and Trinity Episcopal School of Richmond, which won Richmond's preliminary round on April 3. Millbrook's team included Erin Gray, Amanda Warren, Michael Funderburk, Claire Emery, Chad Mukherjee and Wilbur Green, and was coached by Gene Kikolski. Trinity Episcopal's team included Robert Warneford-Thomson, Victoria Marchetti, Thomas "Alex" Eschenroeder, William Hurd, Paige Harland and Logan Mintz (alternate). The team was coached by Robert Patterson.

Judges for this year's competition included John Weinberg, senior vice president and director of research; Roy Webb, senior economist and research advisor; and Anne Hallerman, senior manager, research. Weinberg and Webb scored the teams on their knowledge of the Federal Reserve, the current state of the economy and monetary policy, as well as research, analysis and responses during the 10-minute Q&A session. Hallerman scored the teams on the quality of their presentation and teamwork.

The Federal Reserve sponsors Fed Challenge to encourage better understanding of the nation's central bank and the forces influencing economic conditions in the United States and abroad. For more information visit the Bank's Web site.

The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.


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