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Federal Reserve Chair Duped Into Revealing Biden Economic Projection to Russian Pranksters Posing as Zelensky

Federal Reserve Chair Jerome Powell was duped by Russian pranksters posing as Ukrainian President Volodymyr Zelenskyy in a recent phone call.

During the call, Powell appeared to discuss the economic impact of interest rate hikes. Videos of the conversation were shared on social media, with one clip showing Powell stating that a recession is almost as likely as very slow growth this year.

“We would tell you that a recession is almost as likely as very slow growth,” Powell said.

The Federal Reserve has responded to the incident, with a spokesperson stating that “the video appears to have been edited, and I cannot confirm it is accurate.”

The spokesperson also confirmed that Powell had participated in a conversation in January with someone who misrepresented themselves as the Ukrainian president, but that “no sensitive or confidential information was discussed.”

The Fed has not commented on whether the call revealed any security lapses or what measures will be taken to prevent a similar incident from occurring in the future.

“Chair Powell participated in a conversation in January with someone who misrepresented himself as the Ukrainian president,” the spokesperson said. “It was a friendly conversation and took place in a context of our standing in support of the Ukrainian people in this challenging time. No sensitive or confidential information was discussed.”

This is not the first time that the pranksters, Vladimir Kutznetsov and Alexei Stolyarov, have successfully tricked world leaders into conversations under false pretenses. They have previously pranked European Central Bank President Christine Lagarde and then-UK Foreign Secretary Boris Johnson.

“The matter has been referred to appropriate law enforcement, and out of respect for their efforts we won’t be commenting further,” the spokesperson added.

The Powell incident has raised questions about the Fed’s interest rate hikes, which are aimed at cooling the economy and slowing inflation. If rates remain too high for too long, a recession could occur. The Fed is currently facing intense scrutiny over its monetary policy decisions, and this incident is likely to add to the pressure.

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