April 18, 2008

Millbrook High School Wins Charlotte Office's Fed Challenge 2008

Charlotte, NC

Millbrook High School of Raleigh, N.C., won the Charlotte Office's preliminary round of the Fifth District's annual high school Fed Challenge competition held on April 16. The winning team included students Bill Armstrong, James Cronin, Andrew Owens, Ellet Shaner, Mark Skvara, and Megan Vice, and was coached by Gene Kikolski. The team will travel to the Federal Reserve Bank of Richmond's headquarters in Richmond, Va., to compete against teams from the Richmond and Baltimore offices on May 1.

Pinecrest High School, Southern Pines, N.C. was a finalist in this year's competition. Pinecrest's team included Jake Flittner, Kaleb Frye, Ashlyn Karan, David Nestor, and Kishan Patel. The team was coached by Paul Ericson.

Event judges included Matt Martin, Charlotte Office's regional economist; Rob Roy McGregor, professor of economics at the University of North Carolina at Charlotte; and Yolanda Ferguson of the Charlotte Office's Public Affairs. Martin and McGregor rated 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 a 10-minute Q&A session. Ferguson rated the teams on the quality of their presentations and teamwork.

The Federal Reserve sponsors Fed Challenge competitions nationwide 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, 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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