Fed Challenge Team to Compete on 4/12
The Fed Challenge team will compete on Monday, April 12 at the Baltimore Branch of the Federal Reserve Bank of Richmond. The team members are: Cameron Blackwood '11, Lillie Cartwright '10, Alex Coffin '10, Constantine Nakos '10, Courtney Richeson '11, Arjun Saini '10, Max Schechter '10, and Kelsey Wooddell '10. The team's coach is Mr. John Bodley, who has led 2 Severn Fed Challenge teams to win the national competition (2003 and 2006). Good luck to the team!
Fed Challenge is a national competition sponsored by the Federal Reserve Bank of the United States. Each participating school fields a five student team with one alternate. The goal of the team, posing as the Fed's Open Market Committee, is to make a recommendation concerning interest rates to a panel of Federal Reserve economists. The team has fifteen minutes to present their argument to the judges, and then must field questions for ten minutes to demonstrate their understanding of monetary policy. Severn must first compete in Baltimore. The winner in Baltimore competes in Richmond (the Fed's fifth district) against the Charlotte and Richmond regional winners. The Richmond district winner competes in Washington, D.C. against the Fed's twelve district winners. The finalist teams present their analysis of the economy and answer questions before three active members of the Federal Open Market Committee in the meeting room where Chairman Bernanke and his committee actually meet, the oval office of the central bank.