The Fed Challenge

The Fed Challenge is an academic competition that is regionally sponsored by the Federal Reserve Bank of Richmond. It is designed to improve understanding of the Federal Reserve System's role in the economy, appreciate the importance of monetary policy conducted by the Federal Open Market Committee, and encourage a 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 consumers' lives. Participation in the program will improve the student's skills in research, group dynamics, presentation, and critical thinking.

Six selected Roanoke College students conduct economic research throughout the fall semester. Through this research they present current economic conditions, near term predictions, and a monetary policy recommendation. In essence, they mimic the activities of a meeting of the Federal Open Market Committee. Competing against colleges and universities throughout the Commonwealth of Virginia, our team of students delivers a presentation to a panel of Federal Reserve economists who judge on content, teamwork, responses to questions, presentation, and style.

Students earn academic credit as they are enrolled in ECON 252: Fed Challenge. As an additional incentive, the Richmond competition winner advances to the nationwide competition held at the Federal Reserve's Board of Governors in Washington, D.C. and the students have an opportunity to meet the Chairperson of the Board of Governors.