What is the Fed Challenge?

Each year, the Federal Reserve hosts a national competition for undergraduate students. Teams from 100+ universities analyze economic and financial conditions to formulate a monetary policy recommendation, modeling the Federal Open Market Committee (FOMC).

Presentations consist of the following:

1. An analysis of current economic conditions: broad macroeconomic conditions or specific conditions (geographic, urban/rural, socioeconomic, racial/ethnic, borrowers/savers, etc.)

2. A forecast of near-term economic and financial conditions relevant to monetary policy

3. A discussion of significant risks to the economy that should receive special attention

4. A monetary policy recommendation, encompassing both traditional tools and newer approaches

The competition has three stages:

1. First Round - 15-minute video presentation

2. Semifinal Round - online Q&A with Fed officials

3. Final Round - in-person presentation and Q&A with Fed officials in Washington, DC

Out of 139 universities in the 2025 Fed Challenge, the NYU team advanced to the semifinal round, placing in the Top 3 in the New York region and in the Top 18 nationally.

Applications for the Spring 2026 Training Program will open in late February.

Interested students are encouraged, but not required, to chat our team prior to applying (see Contact tab). More information about our programs can be found on our Training Program and Competition Team pages.

What is the Fed Challenge?

Applications for the Spring 2026 Training Program will open in late February. Interested students are encouraged, but not required, to chat our team prior to applying (see Contact tab). More information about our programs can be found on our Training Program and Competition Team pages.

Applications for the Spring 2026 Training Program will open in late February.

Interested students are encouraged, but not required, to chat our team prior to applying (see Contact tab). More information about our programs can be found on our Training Program and Competition Team pages.