01/02/2008, Voices

Monroe Students Awarded

MONROE - Monroe students Nicholas Ferrigno and Kelli Cooper were among eight Housatonic Community College business students who were awarded certificates for their participation in the Fed Challenge 2007.

The students each received a certificate from HCC President Anita T. Gliniecki at a meeting of the college's faculty December 11.

The Fed Challenge took place in November at the Federal Reserve Bank of New York. The purpose of the event was to provide an opportunity for college students to learn about the Federal Reserve System, monetary policy and the tools that the Fed uses to implement this monetary policy.

"Each student made a 20-minute presentation before a panel of three judges," explained Prof. John Tibor, who spearheaded the event with Prof. David Brown.

"The presentation included a discussion of the current economic condition of the country while focusing on various indicators that the Fed would be most interested in for their decision making related to monetary policy."

At the conclusion of the presentation Prof. Tibor said each student made a recommendation to the Fed concerning action that should be taken relative to changing the Federal Funds Rate.

The Federal Funds Rate represents one of the policy making tools available to the Fed. Along with the recommendation the students had to discuss the upside and downside risks associated with their decision.

"The session concluded with a 15-minute question and answer segment at which the panel of judges asked questions to test the students' knowledge of the workings of the Fed or to clarify points of the presentation," Prof. Tibor said.

The Housatonic students were joined by other students from 24 other colleges including Harvard, Princeton, Rutgers, Fordham, Sacred Heart and Fairfield.

The college team was sponsored by donations from Metrusky Financial Services and G.E. Employees Federal Credit Union.

(C)Voices 2008