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ADVISOR.CA: "MEET THE KIDS CHALLENGING THE FED"
Advisor.Ca: "Meet The Kids Challenging The Fed"
The actions of consumers and investors impact economies, given their spending, debt and employment levels impact growth. For this reason, early financial literacy should be a priority.
“It’s key to understand how our actions affect the economy and what we can do to prevent recessions like the one [I] grew up in,” says Rebecca Martino. Further, “Even though economic downturns happen, [governments] can prescribe solutions to help fix the economy.”
You may think Martino is an economist or banker. But she’s a high school senior, who was a member of New Jersey-based Sussex County Technical School’s first High School Fed Challenge team. Her team won the Maiden Lane division of this year’s Fed Challenge, beating out dozens of other student teams.
The Fed challenge takes place annually, at both the high school and college levels. It’s run by the Federal Reserve Bank of New York and students get a chance to showcase their monetary policy knowledge in front of Fed leaders. Based on their knowledge levels, they’re either tasked with researching and presenting case studies, or assessing the current economy and the Fed’s actions.