A fabricated resignation letter falsely claiming Federal Reserve Chair Jerome Powell was stepping down gained traction on social media platforms.
The false claim spread rapidly before being officially debunked. At the time the hoax circulated, major financial markets remained steady, with the S&P 500 index trading at 6,314 and the benchmark 10-year U.S. Treasury yield holding at 4.33%.
Chairman Powell subsequently reaffirmed his commitment, stating he will serve the remainder of his term until 2026. This comes despite public calls for his resignation from figures such as Federal Housing Finance Agency (FHFA) Director Bill Pulte. The incident highlights the ongoing vulnerability of financial markets to misinformation threats.