On competing in the High School Fed Challenge Championship as “Ed Gramlich”:

A team of five students prepares and presents a 15-minute analysis of the US economy, recommends a course of action with respect to interest rates, and then withstands a 10-minute question-and-answer period from a panel of Federal Reserve economists. To prepare for the competition, students look at the same economic indicators and the same forces influencing the economy that our nation's economic leaders examine. And to lend extra verisimilitude to the whole proceeding, competitors are also advised, as we were, to act out the parts of real members of the Federal Open Market Committee.