St. Lawrence University's Fed Challenge team demonstrated remarkable prowess by harnessing the might of their liberal arts education, leveraging the University's highly ranked alumni network, and securing financial support from a local bank. This enabled them to prepare meticulously for this year's virtual National College Fed Challenge.

Unleashing the Potential of Liberal Arts in Fed Challenge

Power of Liberal Arts Education

The Fed Challenge team at St. Lawrence University understood the significance of their liberal arts education. It provided them with a diverse set of skills and perspectives that proved invaluable in their competition. As Charles A. Dana Professor of Economics Cynthia Bansak mentioned, this 100-percent experiential learning course, led by students, offered a smaller and more hands-on experience compared to larger classes. It allowed them to apply theoretical knowledge to real-world situations. For instance, Finance-major Henry Worden ’25 emphasized how the material in the Fed Challenge course is "applicable to the real world." Every day in class was different as they analyzed newly released data or reports, making the learning experience both engaging and relevant.

Top-Ranked Alumni Network

The University's top-ranked alumni network played a crucial role in the team's success. President and CEO of North Country Saving Bank R. Brian Coakley P’26, P’27, presented a check for $1,000 to support the Federal Reserve Challenge course, highlighting the strong connection within the SLU community. Alumni help tremendously, as Bansak stated. This network provided valuable opportunities for the students to connect with professionals in the field and gain insights. For example, during the mid-semester break in October, the team traveled to New York City to present their recommendation at key financial institutions. There, they not only got valuable feedback but also had the chance to network with industry experts. This interaction with alumni enhanced their understanding of the real-world implications of their work and broadened their professional horizons.

Financial Support from Local Bank

The financial support from a local bank was another significant factor. It provided the necessary resources for the team to prepare and participate in the competition. This support allowed them to access the University's Bloomberg Finance Lab and complete online certifications. With the use of these proprietary terminals, the students were able to analyze economic and financial data more effectively. It gave them a competitive edge and equipped them with the tools needed to make informed decisions. The local bank's contribution demonstrated the importance of community partnerships in fostering academic excellence.

Competition Experience and Insights

Although the St. Lawrence team did not advance to the finals, they still made the University proud. The competition was fierce this year, with teams from prestigious institutions like Princeton and Harvard making strong presentations. However, the SLU students always had creative, non-vanilla policy recommendations. Even though it was typically clear what the Fed would do, the students brought a fresh perspective. As John Hill-Edgar ’25 explained, the unique liberal arts environment at St. Lawrence allowed students with different skills and backgrounds to come together. During their preparation, they met with alumni at financial institutions in New York City to practice their presentation and network skills. This exposure helped them refine their communication and interpersonal skills, which are essential in the professional world.