In January, Russian impersonators acting as Ukrainian President Volodymyr Zelenskyy duped Federal Reserve Chair Jerome Powell into a lengthy phone discussion, during which Powell purportedly discussed the economic effects of interest rate rises.
Social media sites have uploaded videos of the phone call. Powell claims in one video that this year's "recession is almost as likely as very slow growth." Powell has already said that the Fed's fast rate increases over the last year would likely slow the economy and perhaps trigger a recession.
Federal Reserve spokesperson: "The video appears to have been edited, and I cannot confirm it is accurate."
According to the spokeswoman, "Chair Powell engaged in conversation with a person who misidentified himself as the president of Ukraine in January." "It was a cordial discussion that took place in the framework of our support for the Ukrainian people at this trying period. There was no discussion of any private or sensitive information.
The spokeswoman refused to comment on whether the conversation showed that the Fed had security flaws or what will be done to attempt to stop it from happening again.
We won't be making any additional comments out of respect for the work of the proper law enforcement, the spokeswoman stated.
According to Bloomberg News, Vladimir Kutznetsov and Alexei Stolyarov, two seasoned Russian practical jokers, made the phone call. Earlier this year and in 2018, the duo deceived then-UK Foreign Secretary Boris Johnson and President of the European Central Bank Christine Lagarde into engaging in talks.
The Powell episode has surfaced at a time when the Fed is under severe criticism for raising interest rates in an effort to reduce inflation and chill the economy. But if the Fed maintains rates at an unsustainable level for too long, a recession could happen.
Social media sites have uploaded videos of the phone call. Powell claims in one video that this year's "recession is almost as likely as very slow growth." Powell has already said that the Fed's fast rate increases over the last year would likely slow the economy and perhaps trigger a recession.
Federal Reserve spokesperson: "The video appears to have been edited, and I cannot confirm it is accurate."
According to the spokeswoman, "Chair Powell engaged in conversation with a person who misidentified himself as the president of Ukraine in January." "It was a cordial discussion that took place in the framework of our support for the Ukrainian people at this trying period. There was no discussion of any private or sensitive information.
The spokeswoman refused to comment on whether the conversation showed that the Fed had security flaws or what will be done to attempt to stop it from happening again.
We won't be making any additional comments out of respect for the work of the proper law enforcement, the spokeswoman stated.
According to Bloomberg News, Vladimir Kutznetsov and Alexei Stolyarov, two seasoned Russian practical jokers, made the phone call. Earlier this year and in 2018, the duo deceived then-UK Foreign Secretary Boris Johnson and President of the European Central Bank Christine Lagarde into engaging in talks.
The Powell episode has surfaced at a time when the Fed is under severe criticism for raising interest rates in an effort to reduce inflation and chill the economy. But if the Fed maintains rates at an unsustainable level for too long, a recession could happen.
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