FOMC (Federal Open Market Committee) Challenge, a classroom application of the Fed Challenge competition, is designed to be a project-based capstone experience completed by students at the conclusion of their Advanced Placement® (AP) Macroeconomics course. Students are divided into project teams. They conduct research on the state of the economy using economic data available through the Federal Reserve Bank of St. Louis FRED® (Federal Reserve Economic Data) website to answer this question: At what rate should the FOMC target the federal funds rate during its next meeting and why? The teams then present and defend their conclusions and federal funds rate policy proposal to a panel of independent judges at the school.
This activity is designed for teaching grades 11 and 12.