Area High School Students Go Beyond the Briefcase in Fed Challenge Competition.

Business Editors

CLEVELAND--(BUSINESS WIRE)--Oct. 3, 2000

This school year, area high school students have the opportunity to learn that there's more to interest rates then the size of Alan Greenspan's briefcase. During the Fed Challenge competition, offered by the Federal Reserve Bank of Cleveland, teams of students attempt to persuade a panel of economic experts that they know the best course for U.S. monetary policy. In the process, they compete for a trip to Washington, D.C., and cash prizes.

"Fed Challenge is precisely the kind of hands-on experience that makes learning meaningful for young people. Too rarely do students have the chance to develop and craft a sophisticated presentation, then have it evaluated by top professionals," notes Mark Freeman, Shaker Heights City School District Superintendent.

The top team in the Fourth Federal Reserve District (which includes Ohio, eastern Kentucky, western Pennsylvania, and the northern panhandle of West Virginia) wins the title of District Champion and an all-expense paid trip to Washington, D.C. In Washington, the team just might run into Fed Chairman Alan Greenspan while competing against teams from across the United States.

For the national competition, Citibank will award three national semifinalist teams $15,000 and one national champion team $25,000. The cash awards consist of scholarships for the students and grants for the teacher and the school. (Citibank plays no role in planning or managing the competition.)

To help teams prepare for competition, the Federal Reserve Bank of Cleveland offers workshops for teachers and students and a great resource on the Bank's Web site at www.clev.frb.org/ccca/FedChallenge.htm.

For more details about the competition and/or workshops, contact Jennifer Ransom at the Federal Reserve Bank of Cleveland by phone [phone]), fax [phone]), or e-mail ([e-mail]).