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Oct 26 2011

School of Management Students Gear Up for Fed Challenge

Old Westbury, N.Y.  (October 26, 2011) –  Armed with charts detailing deep plunges and economic fits and starts of recent years, five NYIT School of Management students are set to make recommendations on U.S. monetary policies as they compete in the annual Fed Challenge this Friday.

The students will travel to Pace University to compete against other local undergraduate teams in hopes of advancing to the semifinals later in the month.  Representing NYIT are:  Marco Chiaese, Geoffrey Kaicher, Douglas Rieth, Munther Altawash, and Rachel Imbriale.
The students have worked for more than a month to research current economic conditions and craft a presentation that supports their recommendations for Federal Reserve actions to help stimulate the economy. 
“Our team understands the Fed's stress when it comes to price stability and maximum employment and realizes that the Federal Reserve is not the only institution that can affect economic progress,” said Imbriale, (B.S. '12).
Several team members said the most challenging aspects of the competition are the judges – a panel of three economists – and the need to ensure that all data is up-to-date and accurate. The 15-minute presentation is followed by a question and answer session.
“People should care about this competition because those aren't just numbers but are a reflection of the quality of people's life,” said Chiaese, an international student (B.S. '12) from Napoli, Italy.
The students worked under the direction of Dr. Paul Kutasovic, Chair of the Economics Department and School of Management Associate Dean Diamando Afxentiou.
About NYIT
New York Institute of Technology (NYIT) offers undergraduate, graduate, and professional degrees in more than 90 fields of study, including architecture and design; arts and sciences; education; engineering and computing sciences; health professions; management; and osteopathic medicine. A non-profit independent, private institution of higher education, NYIT has more than 14,000 students attending campuses on Long Island and Manhattan, online, and at its global campuses. NYIT sponsors 11 NCAA Division II programs and one Division I team.
Led by President Edward Guiliano, NYIT is guided by its mission to provide career-oriented professional education, offer access to opportunity to all qualified students, and support applications-oriented research that benefits the larger world. To date, 89,000 graduates have received degrees from NYIT. For more information, visit
Elaine Iandoli
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