A team of Sacred Heart University students reached the semi-final stage of the annual College Fed Challenge, a competition for economics students that is hosted by the Federal Reserve of New York (FRNY).
Participants analyzed economic conditions as though they were monetary policymakers and recommended courses for action. Along with their presentations, they were judged on their responses to questions from a team of judges comprised of FRNY staff.
Forty-one teams competed in the first round in November, with only 11 moving on to the semi-finals. Rutgers University’s team emerged the winner and moved on to compete at the national level.
The FRNY aims to help participants develop important skills that will help them in their professional careers, such as analytical thinking, working in a team, making presentations and being able to respond spontaneously.
Sacred Heart students have participated in the College Fed Challenge since the early 2000s, with encouragement from Prof. Bridget Lyons. This year, Prof. Gerald McClough was the team’s faculty adviser. The 2016 team comprised presenters Dan Cohen, Nicole Esposito, Mike Lenard, Lucia Melgar-Torres and Chris Tumio, and researchers James Chiavaro, Mike Losardo, Sandie Samrin, Jacob Tomanelli and Conor Wylie.