Students Advance to Semi-Finals of Fed Challenge
St. Lawrence University’s Fed Challenge team has again this year advanced to the semifinal round of the competition, which will take place on Nov. 14 at the Federal Reserve Bank of New York.
Zane Belden ’18 of Queensbury, New York; Michael Zunkeler ’18 of Baltimore, Maryland; James Schibli ’18 of Ridgefield, Connecticut; John (Jack) Martin ’18 of Syracuse, New York; and, Garnet Remillard ’19 also of Syracuse made up the Fed Challenge team and led by Professor of Economics Cynthia Bansak and Lynn Smith Fox, spouse of President William L. Fox.
"We spend time creating a 15 minute policy proposal, advising the Federal Reserve on current economic conditions and where we believe the target federal funds rate should be," Zane said. "After presenting, we participate in a 15 minute question and answer session based on our proposal. Over 30 teams compete in the first round, and now we will be traveling back to New York City on Nov. 14th for the semifinals."
Students practiced their presentations to six different alumni groups at six different financial institutions.
The morning consists of nine teams presenting to Federal Reserve employees, and of the nine, two teams will move on to the final round held that afternoon, which consists of a 30 minute question and answer session. Advancing to the semi-final round has only been done twice since St. Lawrence began competing in the Fed Challenge.