College Fed Challenge 2021 Winner Announcement | Summary and Q&A

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November 22, 2021
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Federal Reserve
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College Fed Challenge 2021 Winner Announcement

TL;DR

Pace University emerged as the winners of the 2021 College Fed Challenge, impressing judges with their in-depth analysis and presentation skills.

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Key Insights

  • 🫢 Participation in the Fed Challenge can have a transformative impact on students' academic and career aspirations, opening their eyes to the field of economics and monetary policy.
  • 💪 The Fed Challenge competition requires teamwork and collaboration, fostering strong relationships among participants.
  • 👨‍🔬 The skills gained through the Fed Challenge, such as research, data analysis, and clear communication, are highly valued by employers.
  • 🧑‍🎓 The Board of Governors offers various opportunities, including internships and career positions, for students interested in economics and related fields.
  • 🧑‍🏫 The Currency Education Program provides resources and educational materials to teach people about US currency and counterfeit deterrence.
  • 😤 The competition took place virtually, allowing for broader inclusion of schools and teams.
  • 🌗 The COVID-19 pandemic and its aftermath have had lasting effects on the economy, presenting unique challenges for policymakers and economists.

Transcript

i'm gene der from the board's public information outreach team and i'm robin capetto from the board's public information outreach team and welcome to the 2021 national college fed challenge winner ceremony first we're going to hear from mike mchenry a research assistant in the international finance division and a former followed by challenge partic... Read More

Questions & Answers

Q: How did the Fed Challenge competition impact Mike Mchenry's career aspirations?

The Fed Challenge competition opened Mike's eyes to the influence of monetary policy and the functions of the Fed, leading him to pursue a master's or PhD in economics.

Q: What skills do participants gain through their involvement in the Fed Challenge?

Participants gain relevant experience in research, data collection, data analysis, and clear communication of an intended message. These skills are transferable and highly valued by employers.

Q: What opportunities are available for students at the Board of Governors?

Students can explore internship programs, such as the summer internship program, which provides hands-on experience in ongoing projects. There are also career positions in various fields, including financial institution policy analysis, IT, auditing, and human resources.

Q: How can students continue to connect with the Currency Education Program?

Students can follow the Currency Education Program on social media platforms, such as Twitter, Facebook, and YouTube, to stay updated on resources and educational materials about US currency.

Summary & Key Takeaways

  • Mike Mchenry, a former Fed Challenge participant, shared how the competition influenced his academic and career aspirations, leading him to pursue further studies in economics.

  • Participants emphasized the importance of teamwork and building strong relationships, which are skills valued by employers in various industries.

  • Laura Wallace, a recruiter from the Board's Talent Acquisition team, highlighted the different opportunities at the Board of Governors for students interested in economics and related fields, such as internships and career positions.

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