National College Fed Challenge 2022 Awards Ceremony

TL;DR

Princeton University won first place in the 2022 National College Fed Challenge. The ceremony also highlights how former participant Rhea Sonawane developed data analysis, basic coding, public speaking, and teamwork skills before becoming a Federal Reserve research assistant. Speakers outline internships, full-time roles, application guidance, and Currency Education Program resources, making the page worth reading for students considering economics or public-service careers.

Transcript

good afternoon everyone I am Gene there from the board's public information Outreach team and I want to welcome you to the 2022 National College fed challenge winner ceremony Gene you are um thank you so much for starting this I my name is Robin capetto and I'm also from the board's public information Outreach team we are so excited to kick off thi... Read More

Key Insights

• 👨‍💻 Participating in the College Fed Challenge provides valuable skills for a career at the Federal Reserve, such as data analysis, coding, public speaking, and teamwork.
• 🧑‍🎓 The Federal Reserve offers internship and job opportunities for college students and graduates in economics and related fields.
• 💴 The Currency Education Program provides resources for learning about banknote features and counterfeit detection.

Questions & Answers

Q: Who won the 2022 National College Fed Challenge?

Princeton University won first place in the 2022 National College Fed Challenge. The awards ceremony congratulates the competition’s participants and recognizes their work.

Q: How did the College Fed Challenge affect Rhea Sonawane’s career?

Rhea Sonawane said the challenge completely changed the trajectory of her career. After gaining confidence through the competition, she applied for a Federal Reserve research assistant position and later began applying to graduate statistics programs to better work in economic policy.

Q: What skills did Rhea Sonawane develop through the College Fed Challenge?

She developed data analysis skills while working with FRED data and learned basic coding to create clear charts. She also strengthened her public speaking through question-and-answer preparation and gained teamwork experience by collaborating with students interested in economics and policy.

Q: What does a Federal Reserve research assistant do?

Rhea described working with multiple data sources and using R and SAS to contribute to policy products that help the FOMC understand current economic conditions and make policy decisions. She also presents papers to her section and creates briefings for the FOMC and individual governors.

Q: What Federal Reserve opportunities are available to college students and graduates?

The ceremony discusses summer internships, research assistant positions, and full-time opportunities at the Federal Reserve. The listed career areas include research, financial institution policy, software development, data science, and mission-support work.

Q: What materials are required for the Federal Reserve research assistant application?

Josie Jackson says applicants need a resume, cover letter, two writing prompts, and one to two recommendation letters. The recommendations may come from professors or supervisors, and applications in the spring recruiting cycle described during the ceremony were open until January 31.

Q: How can College Fed Challenge participants strengthen their job applications?

Josie Jackson recommends putting the College Fed Challenge experience on a resume. Participants should connect the economic and non-economic skills they developed during the challenge to applications at the Board, one of the 12 districts, or private-sector organizations.

Q: What resources does the Currency Education Program provide?

The Currency Education Program provides resources for understanding banknote features and detecting counterfeit currency. These include an online training course, a mobile app for checking authentic currency, and targeted toolkits for professional cash handlers.

Summary & Key Takeaways

• Rhea Sonawane, a former College Fed Challenge participant, shares her experience and how it impacted her career path.

• Josie Jackson, Senior Outreach Specialist, provides information on internship and job opportunities at the Federal Reserve.

• Laura Wallace, Senior Recruiter, discusses the summer internship program and full-time positions available at the Federal Reserve.

• Asia Thomas Tunstall, Senior Communication Specialist, presents resources from the Currency Education Program for learning about cash and detecting counterfeits.

• Chair Powell congratulates all the participants and encourages students to consider a career in economics or public service.