Among other activities, students in this competition take the roles of Federal Reserve governors and regional Reserve Bank presidents in a mock meeting of the Federal Open Market Committee. Participating Reserve Banks work in partnership with the Board to bring the winning teams to Washington, where the final rounds of competition will be held here in the Board Room.
I have had the opportunity on several occasions to serve as a judge in the national finals of The Fed Challenge, and I can attest that the economic knowledge displayed by the students in that competition is remarkable indeed.