Fed Chair Jerome Powell was pranked by two Russians pretending to be Ukrainian President Volodymyr Zelensky.
The notorious pranksters, Vladimir Kuznetsov and Alexei Stolyarov, who go by “Vovan” and “Lexus,” got Jerome Powell to make a series of shocking admissions during the call.
Powell joked about having a printing press in the basement and claimed the Fed will hike rates two more times.
“The market is already pricing in two more quarter percentage point rate hikes. We’ll look around after we make those two and we’ll say should we do any more, and then the question will be how long do we keep rates at this level – and I think we’ll keep them there for quite some time,” Jerome Powell said during the call which reportedly took place in January.
As ZeroHedge noted, Powell didn’t even speak this candidly during a recent Congressional testimony.
Powell also said a recession is likely.
A Fed spokesperson responded to Powell’s conversation with the Russian pranksters.
“Chair Powell participated in a conversation in January with someone who misrepresented himself as the Ukrainian president,” a Fed spokesperson said Thursday. “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.”