News Release: Chicago Fed Announces 2015 Midwest Fed Challenge Winner
Nicolet High School from Glendale, Wisconsin, Wins Midwest Fed Challenge Competition
CHICAGO (June 5, 2015) -- A team of five students from Nicolet High School in Glendale, Wisconsin, won on April 22 the Federal Reserve Bank of Chicago’s Midwest Fed Challenge Competition.
Nicolet High School competed against teams from Illinois, Michigan and Indiana in the finals of the competition to become champions.
The Fed Challenge was developed to encourage greater awareness among students of how the U.S. economy functions and the role of the Federal Reserve in the economy. Each team is required to analyze current economic data, develop a monetary policy recommendation and defend that recommendation in front of a panel of judges. The team prepares a 25-minute demonstration, which includes a 15-minute presentation on the economy and a 10-minute period where students answer questions from the judges.
Presentations must include a discussion of economic conditions as of the day of the competition; a forecast of near-term changes in economic, financial and international conditions, such as unemployment and inflation; identification of conditions or situations that warrant attention in the formulation of monetary policy, and a recommendation as to whether the Fed should move to raise or lower interest rates.The following is a list of team members’ names from Nicolet High School:
- Sue Bolley, Coach
- Raphael Hallerman
- Hilary Merline
- Filip Josifovski
- Ravil Ashirov
- Hubert Law.
Learn more about the Fed Challenge.
Federal Reserve Bank of Chicago Background
The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation’s central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government and monitors economic conditions in its District.