May 1, 2006 -- A team of students from Shaker Heights High School made it to the national semifinals of Fed Challenge 2006, a monetary policy competition sponsored by the Federal Reserve Bank.

Shaker Heights High School social studies teacher Diana Jones coached the Shaker team, composed of Morgan Grossman-McKee, Brandon Hemmelgarn, Kelly Jackson, Shan Tie, and Diana Wang, with David Coon as alternate. As national semifinalists, the Shaker students, their teacher, and the school will receive a total of $10,000 in cash awards, courtesy of Citibank, N.A.  

In eight years of competition, Shaker has won seven division (first round) titles and five district titles. In five appearances so far at national competition, Shaker teams have made it to the semifinals three times.

The Shaker students competed against teams from William V. Fisher Catholic High School, in Lancaster, Ohio, and Upper Arlington International Baccalaureate School, in Upper Arlington, Ohio, to win the District championship. All three teams had won regional competitions earlier this month at the Cleveland, Cincinnati, and Pittsburgh offices of the Federal Reserve Bank of Cleveland.

Fed Challenge is designed to promote better understanding of the nation’s central bank, the forces influencing U.S. and international economic conditions, and the nuances involved in making monetary policy decisions.  In addition, the competition is designed to help students develop research, presentation, and critical-thinking skills; to foster a closer relationship between high schools and the Federal Reserve Banks; and to promote interest in economics as a subject for undergraduate and postgraduate study.
               
Each Fed Challenge team made a short presentation that included an analysis of the current state of the economy and a recommendation as to what monetary policy action the Federal Open Market Committee (FOMC) should take. Federal Reserve Bank economists and officers judged the local competitions, while FOMC members -- Federal Reserve Governors and Reserve Bank presidents -- judged the National Finals.

Learn more about Fed Challenge.

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