The Saint Francis University Shields School of Business Fed Challenge team traveled to Lehigh University and Lafayette College on November 7-8, 2018, to compete in the Philadelphia Fed District College Federal Reserve Challenge competition. This was the ninth year that Saint Francis has participated in this prestigious event. The team competed against The College of New Jersey, Gettysburg College, Lafayette College, Lehigh University, Princeton University, and Villanova University. Princeton University won this year's competition.
Utilizing their own forecast for GDP growth over the next three years, the team recommended that the Federal Open Market Committee raise its benchmark interest rate four times next year (rather than the expected three). The team reasoned that it will be better for the economy to grow less now so that there is sufficient monetary policy ammunition to combat a future looming recession. At Lehigh University, the team heard a presentation from Dante DeAntonio of Moody's Analytics. Dante (Lehigh Class of 2016 and dissertation advisee of Dr. Timmons) made the students aware of career opportunities at both Moody's Analytics and the Bureau of Labor Statistics.
This year's presenting team was led by captain Jared Barber (senior Economics and Finance major) and also included Max Benzel (junior Accounting and Economics major), Hannah Kraus (senior Accounting, Finance, and Spanish major), and Ben Morgret (senior Economics and Finance major). Luis Aviles (senior Economics and Math) major also contributed and attended the trip. The team would also like to acknowledge the contributions of Amanda Crnic (senior Accounting and Finance major) and Aaron Yasulitis (junior Economics and Finance major).
This year's team was advised by Conor Norris (Research Analyst at the Knee Center for the Study of Occupational Regulation). Dr. Edward Timmons, Professor of Economics and Director of the Knee Center for the Study of Occupational Regulation, also accompanied the students on the trip.
Video of the practice session:
Shields School of Business