Pace University’s Federal Reserve Challenge team secured its sixth national championship at the 22nd annual College Federal Reserve Challenge, continuing a record of success that began in 2014. The team’s achievement sets a new benchmark for the university, which has outperformed several Ivy League institutions in recent years.
The competition, organized by the Federal Reserve System, requires college students to present policy recommendations to officials from the central bank. Team captain Suraj Sharma, a student pursuing both a BA in Economics and an MS in Economic Analysis and Data Science, described the experience as formative: “I chose Pace because of Fed Team,” he said. “I had offers from Fordham and Stony Brook, but Pace understood something they didn’t: the era of the 4.0 GPA guaranteeing you a job is over. Now it’s about networking, real-world experience, and alumni connections.”
Sharma emphasized that this year’s win was particularly meaningful as it was his last opportunity before graduation. He explained the nature of the challenge: “Essentially, we get to say ‘here’s what we think you should do with interest rates, with your balance sheet, and here’s why’… We go through everything—GDP, unemployment, inflation, the financial system—and justify whether we recommend a cut, a hike, or a pause.”
While data analysis plays a role in their preparation—accounting for about fifteen percent according to Sharma—the majority of their effort focuses on soft skills such as public speaking and collaboration. Nearly 140 universities competed this year; only six teams advanced to present before senior research economists at the Federal Reserve Building in Washington, DC.
Reflecting on his experience at the final round in Washington, Sharma said: “I got to sit in the same chair as Chairman Powell. My colleagues sat in the same chairs as the Federal Open Market Committee that decides where interest rates are going to go. It was an unforgettable experience being in a room of such decision-making and power.”
Preparation for the competition spans months and includes support from faculty advisors. Sharma credited Professor Gregory Colman as advisor and Professor Mark Weinstock for building up the team structure. He also acknowledged Anna Shostya, PhD., professor and chair of economics: “Her unwavering support has been everything,” he said.
Participation on Pace’s Fed Team has led many students—including Sharma—to internships and jobs on Wall Street after graduation.
Sharma noted that his journey involved personal sacrifices such as missing family events and overcoming challenges including recovering from an accident shortly before nationals. He believes these experiences demonstrate not only technical knowledge but also resilience under pressure.
Discussing diversity within his team he stated: “Fed Team provides opportunities to everyone, we’re proof of that… Our team has many immigrants and international students… Half our team is women. Most economics departments at other schools across the country can’t say that.” He added: “We reflect the best of what this country can be… We’re New York City. We’re the city of immigrants and dreams.”
More information about Pace University’s Economics Department and its participation in competitions is available through university channels.
