Fed Shifts Y2K Plans
to Contingency

Fed Challenge Invites Students to Act as Monetary Policy-Makers

"Do you want to know what interest rates are going to do? Ask a teenager."

That advertisement, which ran in The New York Times earlier this year, previewed Fed Challenge, a mock competition that provides a forum for high school students to do research and analyze economic conditions before recommending a specific course for monetary policy. Each spring, each five-person team makes a 15-minute presentation before a panel of judges at a mock meeting of the Federal Open Market Committee.

Plans are already under way for next year's competition. Teams entered in Fed Challenge will compete in each of the four zones of the Eighth District next March for the right to square off for the District title April 5 at the St. Louis Fed. The winner of that competition will earn a trip to the finals at the Board of Governors in Washington, D.C.

"The Federal Reserve is proud to sponsor an event that adds not only to high school students' understanding of economics, but to their interest in the subject as well," said Dawn Griffitts, economic education coordinator at the St. Louis Fed. "In years past, Fed Challenge has proven to be a very rewarding experience for students and their teachers."

Fed Challenge teams are looking for bankers, as well as academic and business professionals, to serve as coaches and assist teachers in helping students to analyze and interpret current economic data. In addition, coaches are needed to help teachers explain certain aspects of monetary policy, suggest sources and methods of gathering research, and shape, but not structure or write, the team's presentation. Coaches may assist one team each. The time commitment is up to the coach and sponsoring teacher. This fall, the Fed is holding conferences throughout the District (see box below) to further explain the Fed Challenge program to teachers, students and coaches.

For more information, call or e-mail one of the contacts listed on this page, or visit the Fed Challenge 2000 web site at www.stls.frb.org/education/fedchal/.

For more information about coaching opportunities for Fed Challenge or to register for a coaching conference, contact one of the following coordinators:

St. Louis Dawn Griffitts (314) 444-8421 or e-mail dgriffitts@stls.frb.org	Louisville Lisa Locke (502) 568-9216 or e-mail lisa.locke@stls.frb.org
Little Rock Tiffany Guynes (501) 324-8240 or e-mail tiffany.a.guynes@stls.frb.org	Memphis Ellen Eubank (901) 579-2421 or e-mail elizabeth.e.eubank@stls.frb.org

Coaching Conferences (to be held from 1 p.m. and 4 p.m.)

Date	Location	Registration Deadline
Sept. 21, 1999	Memphis Branch	Sept. 14, 1999
Sept. 28, 1999	Louisville Branch	Sept. 21, 1999
Oct. 5, 1999	Federal Reserve Bank of St. Louis	Sept. 28, 1999
Oct. 13, 1999	Little Rock Branch	Oct. 6, 1999