Press Release: Pace University Fed Challenge Team Wins the 22nd Annual National College Fed Challenge

Beats Harvard, UPenn, and others, marking Pace University’s sixth national College Fed Challenge title

The Pace University Federal Reserve Challenge team has been named the national winner of the 22nd Annual College Fed Challenge, the Federal Reserve recently announced.

The prestigious competition, which invites undergraduate teams to analyze economic conditions and propose monetary policy solutions, included 139 schools from 36 states, making this year’s field one of the largest in the program’s history.

The Pace University team advanced through one of the most competitive regional brackets in the country. In the New York region, Pace defeated New York University, Columbia University and Rutgers University, along with all other participating institutions, securing a decisive regional championship and earning a place in the national competition.

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At nationals, Pace competed against top programs including Harvard College, Princeton University, University of Miami, University of Virginia and University of Michigan. In the final round, Pace earned the national championship, with Harvard placing second and UCLA finishing third. The University of Pennsylvania, University of Chicago and Davidson College received honorable mentions.

This achievement marks Pace University’s sixth national College Fed Challenge title, following wins in 2014, 2015, 2017, 2019 and 2021.

“This national championship is an extraordinary achievement for Pace University,” said Marvin Krislov, president of Pace University. “Our students demonstrated remarkable analytical skill, teamwork, and professionalism throughout the competition, and their success on the national stage reflects the strength of our academic programs and the power of experiential learning at Pace. We’re also deeply grateful to the dedicated faculty and staff whose mentorship and support made this success possible.”

The 2025 Fed Challenge team includes students from economics, business economics and computational economics programs: Suraj Sharma ’26, captain; Giancarlo Raspanti ’26, co-captain; Brooklyn Bynum ’26, co-captain; Gianna Beck ’28; Emina Bogdanovic ’28; Sheira Dery ’27; Gunnar Freeman ’26; Grace McGrath ’26; Oliver Ng ’27; Khan Mamatov ’27; Laura Melo ’27; Kristina Nasteva ’26; Harvey Nguyen ’26; and Alexander Tuosto ’26.

Months of preparation included economic research, mock presentations and intensive Q&A practice with faculty advisers. Sharma, the team captain, said Pace’s success reflected its work ethic and long hours of collaboration.

“Representing Pace University at the Federal Reserve and competing against the strongest economics programs in the country to win the national title for a record-breaking sixth time is something our whole team is incredibly proud of,” Sharma said. “This win is proof of the promise of opportunity Pace made to us years ago.”

Bynum said the experience pushed the team to grow in meaningful ways.

“The Fed Challenge pushed all of us to grow in ways we never expected — as economists, as teammates and as leaders,” said Bynum. “Competing on the national stage and winning the title was unforgettable, and I’m grateful for the chance to represent Pace alongside such a dedicated and talented team.”

Raspanti said the structure of the competition strengthened both analysis and teamwork.

“The competition strengthened both our analytical ability and the bonds we made with each other,” said Raspanti. “This isn’t just a team; it’s a family. Presenting alongside them in a national championship win is an honor I am truly grateful for.”

Faculty advisers and economics professors Gregory Colman, Ph.D., and Mark Weinstock, CBE, coached the team through each stage of the competition. Colman said he was impressed by the students’ preparation and precision.

“It’s a great achievement and a tribute to the hard work that the students put in, and I could not be prouder of them.”

Weinstock added that the Q&A is where the students truly excelled. “Our students excelled in the Q&A, demonstrating the depth of their understanding of the U.S. economy and monetary policy.”

The Fed Challenge is a signature element of experiential learning within Pace’s economics department, offering students hands-on exposure to economic analysis and policymaking. Alumni of the program have secured internships and full-time positions at institutions such as the Federal Reserve Bank of New York, JPMorgan, Goldman Sachs, Citibank and other major employers. Many return to mentor current competitors, creating a strong and supportive pipeline that strengthens the team year after year. Women made up half of this year’s national championship roster, continuing the department’s longstanding record of developing women leaders in economics.

“Winning two consecutive regional competitions and then capturing the national title is a clear testament to our students’ exceptional abilities and dedication,” said Anna Shostya, Ph.D., chair of the economics department. “Their success reflects not only their hard work and deep economic knowledge, but also the unwavering commitment of our faculty coaches, Professors Gregory Colman and Mark Weinstock, who prepare and mentor our students year after year.”

Earlier this year, John Williams, president of the Federal Reserve Bank of New York, visited Pace University to speak at an event hosted by the Pace Economics Society and Women in Economics, following an invitation from the Fed Challenge team captains.

About Dyson College of Arts and Science

Pace University’s liberal arts college, Dyson College, offers more than 50 programs, spanning the arts and humanities, natural sciences, social sciences, and pre-professional programs (including pre-medicine, pre-veterinary, and pre-law), as well as many courses that fulfill core curriculum requirements. The College offers access to numerous opportunities for internships, cooperative education and other hands-on learning experiences that complement in-class learning in preparing graduates for career and graduate/professional education choices.

About Pace University

Since 1906, Pace University has been transforming the lives of its diverse students—academically, professionally, and socioeconomically. With campuses in New York City and Westchester County, Pace offers bachelor, master, and doctoral degree programs to 13,600 students in its College of Health Professions, Dyson College of Arts and Sciences, Elisabeth Haub School of Law, Lubin School of Business, Sands College of Performing Arts, School of Education, and Seidenberg School of Computer Science and Information Systems.