Virginia Commonwealth University of Richmond, Va., won the district title in the Federal Reserve Bank of Richmond's annual College Fed Challenge. The winning team included Logan Hudgins, Thomas Pelletier, Sean Proietti, Andrew Stephenson, Matt Wolpert and alternate, Melissa Lohmann. The team was coached by Professor Dennis O'Toole.
VCU defeated Mount Saint Mary's of Emmitsburg, Md.,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 Nov. 30 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 the month.
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 Alex Wolman of the Research department, and Anne Hallerman of the Research Library. Weinberg and Wolman 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.
View photo of Virginia Commonwealth University, Winner
Pictured left to right (back): Thomas Pelletier, Andrew Stephenson, Melissa Lohmann (Alternate), Dennis O'Toole (Coach), Logan Hudgins
(front): Sean Proietti, Matt Wolpert
View photo of Mount St. Mary's, Finalist
Pictured left to right (back): Mikel Aguirre, Matt Tuman, Brian Arndts, David McGinley
(front): Alejandro Cañadas (Coach), John Streifel
View photo of University of North Carolina, Finalist
Pictured left to right (back): Michael Ayesh, Tanner Strutzenberg, Elizabeth Cooper (Coach), Andrew Owens, Nicholas Nohling
(front): Timothy Armstrong, Mike Aguilar (Coach)
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.