Lafayette College, of Easton, Pa., won the district title in the Federal Reserve Bank of Richmond's annual College Fed Challenge. The winning team included Teevrat Garg, Dylan McNamara, Alex Petroulias, Dan Stefan and Nick Stacey. Chencong Bao was the alternate and the team was coached by Professors James Deveault and Julie Smith.
Lafayette defeated James Madison University, of Harrisonburg, Va., and the University of North Carolina, of Chapel Hill, N.C., to win the Fifth District title, and will advance to the national competition to be held Dec 2. at the Federal Reserve Board of Governors in Washington, D.C.
Preliminary rounds of the competition were held in the Richmond, Baltimore and Charlotte offices earlier in October and November.
The Richmond Fed sponsors College Fed Challenge, a 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. Competition judges included economists John Weinberg and Roy Webb of the Research department, and Christian Pascasio of the Research Library. 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. Pascasio scored the teams on the quality of their presentation and teamwork.
The Federal Reserve Bank of Richmond is one of 12 District Reserve Banks that together with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. The Richmond Fed serves the Fifth Federal Reserve District, which encompasses the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia.View photo of winning team
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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