For release: March 20, 2003

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Germantown High Team Wins Memphis Area "Fed Challenge"

MEMPHIS, Tenn. — A team of six students from Germantown High School won the fifth annual Memphis area "Fed Challenge," an economics competition for high schools sponsored by the Memphis Branch of the Federal Reserve Bank of St. Louis. A team of students from Memphis University School captured second place.

Each team made a 15-minute presentation, based on their research of economic conditions and reflecting their recommended course of action for monetary policy. These presentations were made before a panel of judges at the Memphis Branch of the St. Louis Fed in a mock Federal Open Market Committee format. The teams then answered questions based on their presentations and research.

The students representing Germantown High are Chad Danielson, Quinn Gorman, Adam Messina, Steve Scales, Mark Weston and Annie Yang. Their teacher is Camille Collins. Their coach is Shellie Harvey, a volunteer. On April 2, they will compete in the Eighth Federal Reserve District competition against the winning teams from the St. Louis Fed's branches in Little Rock and Louisville, as well as the winning team from the St. Louis area competition. The District winner will then represent the Eighth District at the Federal Reserve System's national competition April 26-28 in Washington, D.C.

The students who represented Memphis University School are Phillip Braun, Steven Carlson, Wren Holcomb, David Jacobson and Ed Nenon. Their teacher is John Knaff.

Judges for the competition were Dr. David H. Ciscel and Dr. Bill Smith, professors of economics at the Fogelman College of Business and Economics, University of Memphis, and Michael J. Dueker, an officer and economist in the Research Division of the Federal Reserve Bank of St. Louis.

With branches in Little Rock, Louisville and Memphis, the Federal Reserve Bank of St. Louis serves the Eighth Federal Reserve District, which includes all of Arkansas, eastern Missouri, southern Indiana, southern Illinois, western Kentucky, western Tennessee and northern Mississippi. The St. Louis Fed is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, regulates state-chartered member banks and bank holding companies, and provides payment services to financial institutions and the U.S. government.

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