Severn School, located in Severna Park, Md., won the Fifth District championship round of the 2008 Fed Challenge competition held today at the Federal Reserve Bank of Richmond. This year's winning team included Kathy Little, Matt Quinn, Logan McNamara, Emily Viohl, Will Smith and Richard Welch 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 18-19. District winners from five 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 April 16, and Trinity Episcopal School of Richmond, which won Richmond's preliminary round on April 3. Millbrook's team included Bill Armstrong, James Cronin, Andrew Owens, Mick Shaner, Mark Skvara, and Megan Vice and was coached by Gene Kikolski. Trinity Episcopal's team included Robert Warneford-Thomson, Victoria Marchetti, Alex Eschenroeder, Will Hurd, Paige Harland and Logan Mintz (alternate). The team was coached by Robert Patterson and Joseph Marchetti, III.
Judges included Roy Webb and John Walter, senior economists and research advisors; and Anne Hallerman, senior manager, research. Walter and Webb judged the team's 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 judged teamwork and the quality of the presentations.
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 see http://www.richmondfed.org/educational_info/.
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.