Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Pace University won this year’s “National College Fed Challenge” — an annual collegiate competition hosted by the Federal Reserve on Friday.
How it works: Students evaluate the economy and present a monetary policy decision — just like the Fed's rate-setting committee — to a panel of judges who are working Fed officials.
- Pace’s team recommended holding interest rates at the current level, implementing “temporary price level targeting" and instituting a standing repo facility.
Details: They were also quizzed on the practicality of negative rates in the U.S. (something President Trump is keen on) and monetary policy's impact on income inequality.
- "Probably the most intense work ethic I've ever had is preparing for this competition," said the team's captain, Scarlett Bekus — who also noted that the team prepped seven days a week as the contest approached.
The team met Fed chair Jerome Powell. Marissa Kleinbauer, a junior on Pace's Fed team, tells Axios they predict Powell will keep rates on hold “until [the Fed] sees inflation consistently high for a severe amount of time.”
Go deeper: