Team secures honorable mention as national finalists, competing among elite institutions.

Pace University’s Federal Reserve Challenge Team continues its legacy of excellence, winning the 2024 New York Regional College Federal Reserve Challenge competition and ranking in the top five nationally out of 119 participating institutions— the largest in the competition’s history. The team also received an honorable mention as national finalists, competing against prestigious schools such as Harvard, Princeton, and the University of Michigan.

The Federal Reserve Challenge is a premier academic competition where college teams analyze current economic conditions and propose monetary policy solutions to Federal Reserve officials. Pace’s team distinguished themselves with their outstanding economic analysis and policy formulation, defeating top regional schools such as New York University, Columbia University, Rutgers University, and Baruch College to claim the regional title. In the semifinals, they surpassed SUNY Oneonta and Manhattan University, advancing to the national stage where they competed against the nation’s top institutions.

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“This team exemplifies the value of experiential learning at Pace,” said Anna Shostya, PhD, chair of the Dyson College of Arts and Sciences’ economics department. “Their success in the regional competition and recognition at the national level highlight their dedication, preparation and the support of our faculty and alumni.”

Led by co-captains economics major Liam Chentoufi ’25, and Suraj Sharma ’25/’26, pursuing a combined Business Economics/MS in Applied Quantitative Economic Analysis and Policy, the team included undergraduate and accelerated degree students:

• Justin Boudreau ’25 (Computer Science, Economics)
• Brooklyn Bynum ’26 (Business Economics/MS Applied Quantitative Economic Analysis and Policy)
• Gunnar Freeman ’26 (Computational Economics)
• Shaniah James ’26 (Economics/MS Applied Quantitative Economic Analysis and Policy)
• Grace McGrath ’26 (Economics/MS Applied Quantitative Economic Analysis and Policy)
• Kristina Nasteva ’26 (Business Economics)
• Harvey Nguyen ’26 (Economics/MS Applied Quantitative Economic Analysis and Policy)
• Giancarlo Raspanti ’26 (Business Economics/MS Applied Quantitative Economic Analysis and Policy)
• Viktoriia Yevtushenko ’25 (Business Economics)

Chentoufi reflected on the transformative impact of the competition. “The Fed Challenge hones students' abilities to parse incoming, and sometimes contradictory, data while teaching them how to communicate economic stories effectively,” he said. “It's hard to imagine how different life would be if I hadn't found the Fed Team. Participating in the Challenge and learning under the economics department has impacted my life in more ways than I can fathom, and I am forever indebted to those who have made this possible.”

Sharma emphasized the program’s career benefits, noting, "The Pace Fed Team is a direct gateway to understanding how central bank policy shapes economies and unlocks prestigious opportunities on Wall Street and beyond. The Team's near-perfect track record is proof of this; every member has either secured an internship or is actively interviewing—a testament to the program's impact. The mentorship from advisors and alumni, and the privilege to lead such a hardworking group, fulfills the promise of opportunity Pace guaranteed us years ago."

The team was coached by professor Gregory Colman, PhD, professor of economics, and Mark Weinstock, CBE, clinical associate professor of economics.

“I am incredibly proud of this team,” said Colman. “Their dedication, resilience and ability to address complex economic challenges are a testament to their hard work and the strength of our program.”

“The students demonstrated an impressive understanding of monetary policy and the U.S. economy,” added Weinstock. “Their commitment and preparation for the competition’s challenging Q&A section were especially remarkable.”

The College Federal Reserve Challenge highlights Pace’s commitment to experiential learning. Many alumni who participated in the competition have gone on to secure prestigious internships and employment opportunities due to their experience at the award-winning competition. In fact, these alumni often return to mentor current teams, fostering a cycle of student success and career readiness.

In recognition of Pace University‘s consistent performance and success in the College Federal Reserve Challenge, John Williams, president of the Federal Reserve Bank of New York, has accepted an invitation from the Fed team captains to speak at the Pace Economics Society and Women in Economics student organizations in February 2025. This follows their October event featuring renowned labor economist Daniel Hamermesh on Pace’s New York City campus.

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.

About Dyson College of Arts and Sciences

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.