Shaker Wins Third Straight Fed Challenge Title

Shaker Heights High School dominated the competition in winning its third regional Federal Reserve Challenge title in as many years. The first-place team will now advance to the March 12 District competition against teams from Ohio, Kentucky, Pennsylvania, and West Virginia. The second-place finishers were also from Shaker Heights High School. Both Shaker teams are coached by economics teacher Diana Jones.

Each Fed Challenge team of five students makes a 15-minute presentation that includes 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. After the presentation, judges are allowed 15 minutes to question the team about macroeconomic theory and their presentation. One Fed Challenge team is chosen to represent each participating Federal Reserve District at the national competition in Washington, D.C. Federal Reserve Bank economists and officers judge the local competitions, while FOMC members-Federal Reserve Governors and Reserve Bank presidents-judge the national finals. Teams are judged on their knowledge of the Fed and current economic conditions, their response to the judges’ questions, presentation, research and analysis, and teamwork and cooperation.

Shaker’s first-place team members are Chloe Hill, Zeke Hill, Rachel Kiwi, Billy Shaw, and Philip Wallach. Runners-up were Aaron Greenspan, Sarah Morgenstern, Adam Abelson, Chris Hemmelgarn, and Ursula Pavlish. All are seniors. Past Fed Challenge teams from Shaker have won scholarships and awards totaling $70,000.

The Fed’s web site provides additional information about the Fed Challenge program.

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