Fed Chairman Jerome Powell made several bizarre, if not shocking, admissions during a prank call with two Russians posing as Ukrainian President Volodomyr Zelensky.
- They discussed topics ranging from inflation, to the Russian central bank, and possibly setting up a federal reserve bank in Kiev.
- Powell even jokes about having a ‘printing press’ in the basement.
More interesting was Powell’s admission, thinking he was speaking with Zelensky, during the call that the Fed would hike rates two more times.
- The call reportedly occurred back in January and In retrospect, this is precisely what happened, with the Fed hiking twice in 2023.
- This has prompted some to wonder if we are now in the “and done” phase once we get through the May rate hike…