Did Jerome Powell Resign as Fed Chair?

A fake resignation letter bearing the name of Fed Chair Jerome Powell is going viral online, fueling rumors of his departure amid growing political pressure.

Did Jerome Powell Resign As Fed Chair

Recently, the financial and crypto communities have been buzzing over claims that Federal Reserve Chair Jerome Powell has submitted his resignation. A letter bearing Powell’s name, complete with a signature and formal layout, has been circulating widely online, making many believe he had officially stepped down. However, upon closer inspection, the letter has been confirmed as a fake.

Jerome Powell’s “Resignation Letter” Debunked

Amid growing calls for Powell to vacate his post due to dissatisfaction with interest rate policies, a supposed resignation letter addressed to President Donald Trump began making rounds in crypto circles. The letter appeared official and bore Powell’s name and signature.

U.S. Senator Mike Lee even shared the letter on X with the caption “Powell out,” before quickly deleting the post just minutes later. Though it went viral within minutes, experts were quick to spot several red flags.

Fed Chairman's Resignation Letter Goes Viral
Fed Chairman’s Resignation Letter Goes Viral

Most notably, the placement of the official seal was inconsistent with standard formatting. The tone of the letter was also uncharacteristically casual for Powell. Moreover, there has been no official confirmation from the Federal Reserve, further discrediting the document.

Mounting Pressure for Powell to Step Down

The fake resignation letter surfaced just hours before Powell was scheduled to give a major speech, adding to the frenzy. On prediction platform Polymarket, odds of Powell being replaced jumped to 21%. Meanwhile, Federal Housing Finance Agency Chairman William Pulte suggested that a resignation may indeed be imminent.

Powell is under increasing political pressure, especially from former President Donald Trump, who has repeatedly called for his resignation over the Fed’s reluctance to cut interest rates. Trump is reportedly already seeking a replacement.

Although Powell’s term is set to run through May 2026, speculation is mounting that he may leave office early. Notably, Powell has also been criminally referred to the Department of Justice for allegedly lying under oath about the renovation of the Federal Reserve’s headquarters.

Love

0.0/5

Love

Latest

Binance.us Accused Of Political Favoritism After Listing Trump Family’s Usd1 Token

News | Editor Choice | Policy & Regulations

Binance.US Accused of Political Favoritism After Listing Trump Family’s USD1 Token

Binance.US is facing a wave of fierce criticism after listing the Trump family’s USD1 stablecoin, just a week after Donald Trump’s controversial pardon of Changpeng Zhao — a move many see as a “political favor” between the White House and the crypto world.

Spacex Moves $31 Million In Bitcoin, What Is Elon Musk Planning

News | Bitcoin | Editor Choice

SpaceX Moves $31 Million in Bitcoin, What Is Elon Musk Planning?

SpaceX’s sudden $31 million Bitcoin transfer within just one week has sent shockwaves through the market, sparking speculation that Elon Musk may be preparing for a mysterious strategic move.

21shares Files For Hype Etf, While Bitwise’s Solana Etf Records

News | Altcoin | Editor Choice

21Shares Files for HYPE ETF, While Bitwise’s Solana ETF Records

The crypto ETF market is heating up as 21Shares and Bitwise roll out new products, signaling Wall Street’s growing interest in altcoins.

Bitcoin Eyes A Hopeful November Amid Fed Division On December Rate Cut

News | Bitcoin | Editor Choice

Bitcoin Eyes a Hopeful November Amid Fed Division on December Rate Cut

Following the Federal Reserve’s widely expected rate cut, the crypto market has yet to show signs of recovery as internal divisions over a potential December easing weigh on sentiment, making Bitcoin’s short-term outlook more cautious than ever.

Ethereum’s Key Changes After The Fusaka Upgrade

News | Altcoin | Editor Choice

Ethereum’s Key Changes After the Fusaka Upgrade

The Fusaka upgrade marks a pivotal step in Ethereum’s journey toward large-scale scalability, promising faster transaction speeds, enhanced security, and laying the foundation for the next explosive phase of the world’s leading blockchain.

Screenshot 2025 10 20 091338