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UD College Fed Challenge team wins honorable mention
2:40 p.m., Dec. 4, 2006--A team of five UD economics undergraduate students recently won an honorable mention award at the regional level in the College Fed Challenge, a nationwide academic competition organized by the Federal Reserve System. The team, which was coached by Kolver Hernandez, UD assistant professor of economics, included Benjamin Baxter, a junior from Little Silver, N.J.; David Giattino, a senior from Wilmington; Brendan Huggins, a sophomore from Pottstown, Pa.; Ryan T. McWilliams, a junior from Sewell, N.J.; Scott W. Ohlmacher, a junior from Adamstown, Md.; and Jonathan Urick, a junior from Malverne, N.Y. It was the first team of UD students to have entered the competition. The team prepared a 20-minute presentation to assess the current state of the economy and gave its recommendation on the most convenient course for monetary policy. After the presentation, the team answered questions from a panel of judges. The team recommended that the Federal Open Market Committee keep the target for the federal funds rate at 5.25 percent, while maintaining a bias toward tightening. The recommendation was based on five considerations that took into account inflation, oil prices, growth in unit labor cost, potential inflationary pressures based on the current gross domestic product and the state of the housing sector. Later this month, the UD Fed Challenge Team will present its work to other UD students and faculty to promote the spirit of the competition and to motivate other students to join the team. The competition is open to teams of up to six students per university and has a regional stage and a national final. The Fed Challenge Team of UD competed Nov. 15 in the regional competition at the Baltimore office of the Federal Reserve Bank of Richmond. Article by Becca Hutchinson |
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