Fort Bend Lifestyles and Homes Magazine Jan 2010: Hightower Senior Hemal Shah, Named to Federal Reserve Bank, Student Board of Directors

By Cindy Ziervogel

Hemal Shah, a senior at Hightower High School, will learn about the nation’s central bank from the unique vantage point of the boardroom. He has several reasons to celebrate his recent appointment to the Student Board of Directors of the Houston Branch, Federal Reserve Bank of Dallas. First, there ’s the state of the current economic climate to study.

“We’re in a unique time. We’re in a recession so now is the best time to serve on the student board,” said Hemal. “I’ll get a much deeper understanding of how the financial system works.”

Also, the economy is always his favorite topic of discussion; from monetary policy to local conditions.

In his application essay Hemal revealed his obsession with the stock market as well as watching countless hours of CNBC and Bloomberg News. He said he has been studying real world finance and economics for many years, ever since his dad, Paresh, bought him stock in toy maker Hasbro when he was a little boy. Hemal hopes to major in business and become a stock broker

And finally, Hemal is one of only 24 students in the greater Houston area selected to the board. With that comes the distinction of being the first student to represent a Fort Bend

ISD school.

“It’s fantastic that I’m on the board. I was very surprised when I heard the news. The competition from Hightower was really steep, ” he said.

Throughout their term, the Student Directors act as ambassadors for the bank.

The 24-member board, selected by their respective schools on the basis of scholastic standing and commitment, represent the geographic and cultural diversity of the Houston region, encompassing a 41-county area in southeast Texas. Writing an essay describing their interest in the program, education plans and career goals was a key part of the application process.

Initiated in the 2004-05 academic year by the Houston Branch, the Student Board of Directors program seeks to give students firsthand knowledge of the Federal Reserve ’s role as the nation’s bank. At monthly meetings, members of the Student Board interact with directors of the Houston Branch and Federal Reserve economists. Lively discussions include lessons on the Houston area economy, monetary policy and business experiences.

As recognized leaders in the community, students have the opportunity to present educational projects focusing on economic principles and the functions of the Federal Reserve at elementary schools, civic clubs and in their own high school classrooms.

“The knowledge and skills these student directors gain during their term will enable them to be successful in their university studies and throughout their lives, ” said Susan Kizer, economic education, Federal Reserve Bank of Dallas, Houston branch.

The board meets once a month to discuss monetary policy, important issues of the day and how the Federal Reserve is received by the public.

“Financial literacy is absolutely necessary for everyone in order to have a steady economy, ” said Hemal, who is required to educate the public as a member of the board.

And Hemal plans to do his part, going from the classroom to the boardroom back to the classroom. Even if it means tackling an unpopular task.

For instance, one way to educate the public would be to “teach high school students about the importance of budgeting,” he said.

Budgeting. Not typically a hot topic with teens; in fact it’s a downright ignorable one. So, if Hemal can successfully convince his peers to appreciate the need to budget their money, perhaps the Feds should think about promoting him.