A fabricated resignation letter falsely claiming Federal Reserve Chair Jerome Powell was stepping down circulated across social media platforms, prompting brief market uncertainty. The fraudulent document was rapidly debunked by official sources and financial authorities before gaining significant traction.
During the incident, major financial indicators remained stable with the S&P 500 holding at 6,314 and 10-year U.S. Treasury yields steady at 4.33%. Market analysts noted no immediate volatility linked to the false claims during their spread.
Powell, who previously faced resignation calls from critics including FHFA Director Bill Pulte, reaffirmed his commitment to serve through the end of his term in 2026. The Federal Reserve reiterated its focus on monetary policy stability amid the disinformation episode.