Pace University’s Federal Reserve Challenge team has secured first place in the 22nd annual College Federal Reserve Challenge national championship, surpassing teams from Harvard University, University of California, Los Angeles, University of Pennsylvania, University of Chicago, and Davidson College. This marks the sixth national title for Pace since 2014.
This year’s competition saw participation from 139 schools across 36 states, making it one of the largest fields in the program’s history. The Pace team represented the New York District after advancing from the regional round held earlier in November.
The winning team included co-captains Giancarlo Raspanti and Suraj Sharma (both class of ’26), as well as presenters Gianna Beck (’28), Brooklyn Bynum (’26), and Alexander Tuosto (’26). Other student researchers who contributed were Emina Bogdonavic (’28), Sheira Dery (’27), Gunnar Freeman (’26), Amirkhan Mamatov (’27), Grace McGrath (’26), Kristina Nasteva (’26), Laura Melo (’27), Oliver Ng (’27), and Harvey Nguyen (’26).
Professor Gregory Colman served as head advisor to the team. Clinical Associate Professor Mark Weinstock coached the group. Reflecting on his experience, Weinstock said: “Coaching the Fed Challenge has always been one of the most meaningful teaching experiences of my career. The opportunity to work with gifted students and to see them excel is spirit-lifting and thoroughly enjoyable. I’m most proud of the moments when I realize that students have achieved mastery of economics and finance that will allow them to reach the upper strata of the industry.”
Fed Challenge Judge Thomas Lubik commented on their performance: “Your team’s was the most perfect and complete performance I have ever seen at a College Fed Challenge. It was also incredibly close with the runner-up team, and we debated a good while until we settled on a winner. In the end, the way you worked as a team made the difference.”
Team member Alexander Tuosto described how support from fellow members helped him overcome challenges during preparations: “It was the last night of recording our first-round presentation, and after a seven-hour recording session, we were nearing the deadline without a take that we could confidently submit. I had messed up my line at the end of the perfect run which, at this point, was very frustrating. So much that it made me unsure if the team had made the right decision in choosing me. We took a short break from recording and my mentor [co-captain Giancarlo Raspanti ’26] and the other members of the team came into the classroom I was in. We talked for a little bit; they all put things into perspective and helped me get my mind back on track. We did one final take after that, and it was actually the run that we ended up submitting: it seriously felt like a movie moment, and I don’t think I’ll ever forget it.”
Alumna Kelsey Berro reflected on what drives Pace’s continued success: “Hard work, grit, determination, and a lack of entitlement. We have won because we study the hardest, prepare the most, and because we earn it.”
Participation in this challenge is noted as an important experiential learning opportunity for Pace students; many former participants have gone on to internships or employment related to their studies after graduation.
