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Press Release

Cleveland Fed Contest Asks Students to Choose Most Significant Advancement in Last 100 Years, Explain its Economic Impact

December 2013 marks the 100th anniversary of the signing of the Federal Reserve Act, which created our nation's central bank. During that 100-year span, life has changed dramatically.

The Federal Reserve Bank of Cleveland is offering high school juniors and seniors an opportunity to win prizes by choosing the most significant advancement in the last century and explaining its impact on the economy.

For the Bank's 2014 Creative Writing Contest, "100 Years of Change: Once Upon a Time Before TV," students can submit an essay, poem, play, or short story. As they think about the advancement or invention they have chosen, they are being asked to consider its costs and benefits and whether it has created unintended consequences.

The deadline for submissions is February 28, 2014. The top prize is a $500 cash gift card.

Each qualifying entry will be evaluated on comprehension, organization, conclusions, creativity, and clarity. The contest is open to 11th and 12th grade students attending schools in the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. Submission requirements, a complete list of prizes, and an entry form can be found on the Bank's website.

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that along with the Board of Governors in Washington DC comprise the Federal Reserve System. Part of the US central bank, the Cleveland Fed participates in the formulation of our nation’s monetary policy, supervises banking organizations, provides payment and other services to financial institutions and to the US Treasury, and performs many activities that support Federal Reserve operations System-wide. In addition, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities.

The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.

Media contact

Doug Campbell,, 513.455.4479