(WASHINGTON) — Federal Reserve Chair Jerome Powell spoke over the phone with two Russian pranksters falsely posing as Ukrainian President Volodymyr Zelenskyy, the central bank confirmed to ABC News on Thursday.

The incident, which took place in January, has been referred to law enforcement, a spokesperson for the central bank told ABC News in a statement.

“It was a friendly conversation and took place in a context of our standing in support of the Ukrainian people in this challenging time,” the spokesperson said. “No sensitive or confidential information was discussed.”

The prank call surfaced in a video that appeared on Russian state television, Bloomberg reported. Bloomberg first reported on the call.

The video shows Powell answering questions from the caller about his inflation forecast and the Russian central bank, among other topics, the report said, adding that the video spanned several clips that lasted more than 15 minutes combined.

A Fed spokesperson told ABC News that the central bank cannot confirm the accuracy of the video.

“​​The video appears to have been edited,” the spokesperson said.

News of the call arrives as the Fed has undertaken an aggressive series of rate hikes last seen in the 1980s, carrying out a fight against inflation by slowing the economy and slashing demand.

The policymaking stance holds implications both for the U.S. and global economies.

The alleged pranksters — Vladimir Kuznetsov and Alexei Stolyarov — have successfully duped multiple foreign leaders into speaking with them over the last several years, according to Bloomberg. They are supporters of Russian President Vladimir Putin.

The incident will likely stoke concern about security measures taken at the Fed.

Remarks from Powell and other top officials at the central bank usually draw close scrutiny from investors and business leaders, and sometimes even cause movement in the stock market.

Private meetings with Fed officials, meanwhile, occasionally stir controversy about the possible advantage they provide for participants.

In October, Federal Reserve Bank of St. Louis President James Bullard prompted backlash for remarks he made about monetary policy and economic performance at an off-the-record event with Citigroup.

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(WASHINGTON) — The U.S. economy slowed at the start of 2023, suggesting that an aggressive series of interest rate hikes at the Federal Reserve has cooled business activity even as the stock and job markets have made gains.

U.S. gross domestic product grew by a 1.1% annualized rate over the three months ending in March, according to government data released Thursday. The data marked a slowdown from 2.6% growth in the previous quarter. In turn, that performance indicated a downshift from 3.2% growth in the previous quarter.

Consumer spending, which accounts for roughly two-thirds of the U.S. economy, surged over the first three months of this year, said the Bureau of Economic Analysis, a government agency.

Government spending at the federal and local level also fueled the economic growth, the agency said.

However, the slowdown from the previous quarter resulted from a decline in business investment and residential fixed investment, which includes money spent on home buying and construction, the data showed.

The data offers a snapshot of economic activity over a period that brought robust hiring but also a banking meltdown on a scale last seen in the 2008 financial crisis.

The widely anticipated measure arrives at a sensitive moment for the U.S. economy.

Over the last year, the Fed has imposed rate hikes last seen in the 1980s.

The policy aims to slash inflation, but risks slowing the economy and bringing about a recession.

So far, the approach has succeeded in cooling price hikes, but fallen short of the Fed’s goal.

Consumer prices rose 5% last month compared to a year ago, extending a months-long slowdown of price increases, but leaving inflation more than double the target rate of 2%.

Meanwhile, a variety of measures suggest that economic performance remains robust, but has slowed in recent months.

The U.S. added 236,000 jobs in March, which marks strong job growth, but a reduction from an average of 334,000 jobs added each month over the previous six months, according to government data released last week.

Meanwhile, U.S. retail sales fell moderately in February but remained solid, suggesting that households still retain some pandemic-era savings.

Still, the economy remains under threat of a recession.

Fed economists said in March that they anticipate a “mild” recession later this year, escalating a previous forecast, central bank meeting minutes showed.

Sixty-five percent of economists expect a recession within the next year, according to a Bloomberg survey last month.

Many observers define a recession through the shorthand metric of two consecutive quarters of decline in inflation-adjusted GDP.

The National Bureau of Economic Research, or NBER, a research organization seen as an authority on measuring economic performance, uses a more complicated definition that takes into account several indicators that must convey “a significant decline in economic activity spread across the economy, lasting more than a few months,” the group says.

This definition determines whether a downturn is formally designated as a recession, since the NBER is the official arbiter on the subject.

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(NEW YORK) — On the heels of Bed Bath and Beyond filing for bankruptcy and planning to close all of its stores, The Container Store has good news for customers with excess blue coupons.

Through the end of May, The Container Store will accept the commonly seen coupons from its home organization competitor.

On Wednesday, the Coppell, Texas-based company announced it would offer a 20% discount off any single item through May 31 “for customers who bring a competitor’s blue coupon to any store location.”

After the bankruptcy news, Bed Bath & Beyond said it would no longer accept coupons after Wednesday.

In a tweet, The Container Store also mentioned its “blue coupon” offer along with a wink-face emoji as a nod to the reference.

So. Much. NEW. Bring in a blue coupon 😉 to receive 20% off a single item and experience our vast array of NEW products for college. Terms and conditions apply. We’re here for you. Welcome to the organization. #TheContainerStore pic.twitter.com/o8kp8csZC8

— The Container Store (@ContainerStore) April 26, 2023

In a statement to ABC News, a representative for Bed Bath & Beyond and buybuy BABY confirmed that “customers’ registry data is safe” and existing registries can still be viewed.

The statement continued, “We expect to partner with an alternative platform where customers will be able to transfer their data and complete their registry. No new registries will be created. We are focused on providing updates as quickly as practicable and are working to provide details in the coming days.”

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