Newark, N.J. (November 16, 2016) – The Rutgers Center for Real Estate congratulates the Rutgers University – Newark Fed Challenge team on advancing to the next round in the College Fed Challenge. Held annually, the Fed Challenge is hosted by the Second District Federal Reserve branch in New York City. The competition allows college students to play the role of monetary policymakers by analyzing economic conditions and recommending a course for monetary policy while networking with fellow students and thought leaders from across the country.
Participating for the Rutgers University-Newark’s team, coached by Professor John W. Graham, in the competition on November 3rd, were students (pictured left to right) Naveen Kotecha, Mikael Yoo, Vanessa Martinez, , Rodrigo Gomozcoello and Yagnesh Patel, and advisors Aman Khatwani, Daniel DeMatos and Yil Krasniqi. Also participating as an advisor to the team was Morris A. Davis, the Paul V. Profeta chair and academic director of the Rutgers Business School Center for Real Estate. Dr. Davis was an economist at the Federal Reserve Board where he routinely briefed Alan Greenspan on housing and macroeconomics. His experience with the Fed allowed him to provide invaluable insights on monetary policy and macroeconomics to the students as they prepared for the competition.
The team advanced to the Liberty Street Division semifinals to be held in New York City on November 18th with a chance to advance to the National Fed Challenge to be held on December 1st in Washington D.C. at the Federal Reserve Board of Governors meeting. The Rutgers delegation gave a presentation on the economy together with their monetary policy recommendations and then responded to Q&A posed by judges from the New York Federal Reserve. They competed against leading universities and colleges from all over the Federal Reserve’s Second District.
“Through participation in the Fed Challenge, these Rutgers students gain an important perspective on the role of the Federal Reserve and a better understanding the macroeconomic conditions that impact Fed Policy,” said Davis. “I wish to congratulate the team for their hard work and preparation and wish them the best in the next round. They will be able to take the lessons learned from this conference back to their studies at Rutgers to continue to position Rutgers as a center for economic thought and learning.”