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JOHN TIBOR AT 203-332-5115, DAVID BROWN AT 203-332-5129, OR ANSON SMITH AT 203-332-5229

HCC TAKES SECOND PLACE IN NATIONAL FED CHALLENGE

Left: HCC students who placed second in the national 2008 Fed Challenge competition include, from left to right, Kevin Nguyen and Phat Nguyen of Bridgeport, Makie Savage of Trumbull, Sangeet Dharamsey of Stratford and Marina Deryusheva of Bridgeport.

 
BRIDGEPORT
A team of five Housatonic Community College students placed second in the national Fed Challenge competition held Dec. 10 in New York City.
The team, consisting of Kevin Nguyen and Phat Nguyen of Bridgeport, Makie Savage of Trumbull, Sangeet Dharamsey of Stratford and Marina Deryusheva of Bridgeport, represented the New York Federal Reserve District in an Inter District competition.
The team made a twenty-minute presentation before a panel of three judges. The presentation had to include 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.
“As the presentation of their research concluded, the students had to make a recommendation to the Fed concerning action that should be taken relative to changing the Federal Funds Rate,” said Professor and faculty advisor John Tibor. “The Federal Funds Rate represents one of the policy making tools available to the Fed.  Along with their recommendation, the students had to discuss the upside and downside risks associated with their decision.”
“The students selected the areas of focus for their presentation, which included an analysis of Gross Domestic Product, various labor statistics, consumer spending, business investment and inflation,” Tibor explained. “The result was a well prepared and balanced presentation with the students recommending that the Fed should lower the Federal Funds Target Rate by 25 basis points to 0.75 percent.)
The session concluded with a fifteen minute question-and answer-segment in 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, Tibor explained.
At the conclusion of the National Competition, the students from HCC were named as the second place team, finishing behind the team representing the Boston Federal Reserve District.  The students will be receiving a cash prize totaling $1,500 which they will share and will also receive a certificate from the Federal Reserve Bank
The HCC team attended the Dec. 10 competition, after winning the first round of competition for the Community College Division in November.