Fed Challenge

Well, what can I say another Fed Challenge competition completed. All though I don't really like talking about the challenge simply because typically no one knows what I'm talking about. The Fed for many people is mysterious, monolithic aberration that the news reports on all the time. That is exactly what the competition is attempting to change. The Fed is simply the banker’s banker and steward of the financial system in the United States. The competition requires not only a focus on macro economic variables to assess economic well-being of the country. But the core of the competition is the ability to understand the social implications that the actions of the Fed have the entire system from large financial markets like the NYSE to individuals looking for a car loan.

Each year every district invites schools to participate in this rewarding and appropriately named challenge. Our district compromise of some of the top economic programs in the nation, Northwestern and University of Chicago are the biggest heavy hitters in country. Last year we fell short of U of Chicago by a heart breaking three points. This year was different armed with a greater focus and a well devised plan built on three years of obsession; we were able to accelerate into the finals. I can honestly declare in all humility that the progress made in three years of participation in the program is more than impressive given the nature of the competing forces involved.

This was my second time in the competition and I can easily say that is the single greatest thing I have done in my college career. The opportunity to be openly invited into one the most influential institutions in the country is hard to describe. Furthermore the willingness of the great minds willingly giving up there time to help my own personal develop and education is something is impossible to pass.

Kevin McKay