In 2008 the economics department again participated in the College Fed Challenge sponsored by the New York Federal Reserve Bank. The team consisted of Michael Connolly, Blake Gwynn (now working at the NY Fed), Joe Meroni, Jon Fiore and Hari Amarnath. After winning its opening round bracket the team advanced to semi-finals. At that competition the team was chosen to participate in the finals. Among the judges at the finals was William Dudley, who was recently named President at the NY Fed replacing Tim Geithner.
The finals were held in the main auditorium at the NY Fed and the competing teams included Rutgers, NYU, SUNY Geneseo and U. of Pennsylvania. The Rutgers team placed third (NYU advanced to Washington, DC). The Moody's Foundation hosted a reception following the competition and awarded $2,500 to the Rutgers students and $5,000 to the department to support programs and activities related to Fed Challenge.
Jeff Rubin served as the faculty adviser and Ray Stone provided invaluable guidance about the wide range of policies and activities the Fed was introducing in the very active period in fall of 2008.