Fed Challenge Team:
Going Way Beyond
the Numbers
The winningest team in the history of the Federal Reserve College Challenge?
(Hint: It’s not Harvard anymore.)
“I’m so excited about this win because it demonstrates that our students are among the very best in the United States,” said Mark Weinstock, clinical associate professor of economics and one of the team’s coaches. “The economics department at Pace has pioneered the role of women and first-generation college students, and has created an inclusiveness based on hard work, merit, and the excitement of learning.”
“This win is the result of hundreds of hours of studying and practicing, starting in the summer,” said Liu. “We are so lucky and proud to lead a hard-working team, with everyone always being understanding of the workload and striving for excellence.”
The team received academic guidance from Weinstock and Economics Professor Gregory Colman, PhD, with support from Distinguished Professor of Economics Joseph C. Morreale, PhD, and Associate Professor of Economics Anna Shostya, PhD.
“We are especially grateful to our advisors, who were with us throughout this wonderful learning experience,” said Waterman, “as well as members of the Fed Team from previous years, who offered valuable suggestions.”
Captains Liu and Waterman are joined on the team by the following Dyson College students: Christopher Beck ’22, Economics, Gianni Campanaro ’22, Business Economics, Casey Cloutier ’22, Economics and Modern Languages and Cultures, Stephanie Ertel ’22, Economics, and Kate Fong ’23, Economics.
The Pace team was one of six that advanced to the final round from the pool of 18 teams from across the country that qualified for the national competition. The University of Pennsylvania and Dartmouth College, both Ivy League institutions, finished in second and third place, respectively, with George Washington University, UCLA, and the University of Wisconsin earning honorable mentions.
Each team in the national round was required to record a 15-minute presentation analyzing elements of the United States economy, including areas like GDP and unemployment, and provide monetary policy recommendations for the Federal Reserve’s balance sheet and interest rates. The teams then participated in a live, virtual Q and A session with members of the Federal Reserve.
To commemorate its historic win, the team was presented with official proclamations signed by New York State Assemblymembers Deborah J. Glick and Yuh-Line Niou at a special recognition event in March 2022 on the New York City campus. Pace University President Marvin Krislov, Dyson College of Arts and Sciences Dean Tresmaine Grimes, PhD, and Joseph C. Morreale, PhD, delivered congratulatory remarks, as economics department faculty and students and Federal Reserve Challenge Team alumni gathered to celebrate the team’s legacy of success.
“This experience [with the Fed Challenge] is invaluable,” said Weinstock. “It gets students who are passionate about this work close to the action. It teaches them to defend their thinking, be cool under pressure, and clearly communicate verbally and in writing, all skills that will serve them well in their future professions.”
“This experience [from the Fed Challenge] is invaluable,” said Weinstock. “It gets students who are passionate about this work close to the action. It teaches them to defend their thinking, be cool under pressure, and clearly communicate verbally and in writing, all skills that will serve them well in their future professions.”