The High School Fed Challenge Championship is an instructional activity designed to bring real world economics into the classroom. The event takes place at the head office of the Federal Reserve Bank of New York and in the Buffalo area and is inspired by the work of the Federal Open Market Committee.
High school teams, made up of three to five students, play the role of monetary policymakers by gathering and analyzing data and research in preparation for a 12-minute presentation that includes:
- an analysis of current economic and financial conditions in the United States;
- a near-term forecast of economic and financial conditions of critical importance in the development of monetary policy (for example, U.S. unemployment, inflation, output);
- identification of risks to the U.S. economy that should be of special concern for monetary policymakers; and
- a statement, modeled on the FOMC, with monetary policy recommendations with supporting reasons.
Following each presentation, is a 13 minute Q&A by a panel of judges, comprised of Federal Reserve staff members, professional economists and educators. Teams may be asked to explain anything in their presentation, to discuss current controversies and issues, and to think through the answers to hypothetical situations.
Teams are assessed on their knowledge of macroeconomics, the Fed and monetary policy; on the quality of their research and analysis; on the logic and clarity of their presentation; and on their ability to respond effectively to questions.
Fed Challenge provides an opportunity for participants to develop skills—the ability to think analytically, to make effective presentations, to work as a team—that are valuable for learning and performance in higher education and in the workplace.