2008 Fed Challenge Team
Congratulations to Northwestern’s 2008 Fed Challenge Team for placing third at the Fed Challenge National Championship in Washington, D.C. in November 2008.
The NU team represented the Midwest region at the National Championship, having won their fifth consecutive district regional last fall. While the team was hoping to achieve an additional national championship, student Alex Rus noted that the team’s recommendations were in line with the course of action undertaken by the Federal Open Market Committee (FOMC) just two weeks after the competition.
Specifically, the team proposed reducing the target federal funds rate to 25bps, and two weeks later the FOMC established a range for the rate between 0 and 25bps. NU's team also recommended exploring the implementation of an inflation target. This idea was discussed at a subsequent meeting of central bank officials, who considered providing “a more explicit indication of their views on what longer-run rate of inflation would best promote their goals of maximum employment and price stability.”
The five-member Fed Challenge team consisted of Certificate Program students Matthew Dabrowski
, Alexandru Rus
, and Atanas "Nasko" Stoyanov
, along with NU students Chad Frontz and Joshua Goldstein. Research assistance was provided by Certificate Program student Qiyun Cai
along with Dharini Subramanian, Daniel Wolf and Lucas Zalduendo.