What is the Fed Challenge?

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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).

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Presentations consist of the following:

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​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

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The competition has three stages:

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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

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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.