On Monday, April 25, 2005, a team of students from Shaker Heights High School in Shaker Heights, Ohio, won the District Championship in the second round of Fed Challenge 2005, an economics competition sponsored by the Federal Reserve Bank of Cleveland. Also competing in the second round of the competition were students from Beavercreek High School in Beavercreek, Ohio, and Kittanning Senior High School in Kittanning, Pennsylvania. Earlier this month, the three high school teams won regional competitions at the Cleveland, Cincinnati, and Pittsburgh offices of the Reserve Bank. The District finals took place in Cleveland.

Social studies teacher Diana Jones coached the winning Shaker team of Andre Dev, Anna Dev, Morgan Grossman-McKee, Rebecca Heide, and Diana Wang. Shan Tie is the team's alternate.

Courtesy of the Federal Reserve Bank of Cleveland, the Shaker students and Jones will receive an all-expense-paid trip to Washington, D.C., on May 14-16 to compete against winning teams from other Federal Reserve Districts for the National Fed Challenge Championship. In addition, courtesy of Citibank, N.A., each member of the Shaker team will be awarded $500, their teacher will receive $1,000, and the school will receive $1,500.

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 makes a short 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. Federal Reserve Bank economists and officers judge the local competitions, while FOMC members -- Federal Reserve Governors and Reserve Bank presidents -- judge the National Finals.

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