November 16, 2007

Christopher Newport University Wins Fifth District College Fed Challenge Competition

Richmond, VA

Christopher Newport University, Newport News, Va., won the Fifth District title in the Federal Reserve Bank of Richmond’s 2007 College Fed Challenge Competition held earlier today. The winning team included students Mark Bock, Cynthia Gasch, Amber Kazlauskas, Jeff Pfeiffer and Josh Smith, and was coached by Professor Robert Winder. Christopher Newport will compete against winners from the Boston, New York, and Chicago Feds in the national competition, which will be held on Nov. 26 at the Federal Reserve's Board of Governors in Washington, D.C.

Christopher Newport edged out teams from the University of North Carolina at Chapel Hill, winner of the Charlotte Office's preliminary competition, and Mount St. Mary's University, winner of the Baltimore Office's preliminary competition. This is the first time that Christopher Newport has won the District title. This year's College Fed Challenge drew 28 teams from colleges and universities throughout the Fifth District, which includes Maryland, Washington, D.C., North Carolina, South Carolina, Virginia and most of West Virginia.

The Richmond Fed sponsors the regional academic competition to encourage better understanding of the nation’s central bank, the forces influencing economic conditions in the United States and abroad, and the ways the economy affects everyone's lives. In Fed Challenge, teams give 20-minute presentations on monetary policy and are judged on content, teamwork, responses to questions, presentation and style. Judges for this year's District competition included John Weinberg, senior vice president and director of research; Roy Webb, senior economist and research advisor; and Anne Hallerman, senior manager, research.

Federal Reserve Bank of Richmond news releases can be found at the Bank's Web site. For more information, contact your local Federal Reserve Bank, or call 1.877.FED.CHLG.

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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