On 22/7, Republican Senator Mike Lee shared a fabricated resignation letter on X, formerly known as Twitter, purportedly from Federal Reserve Chair Jerome Powell. The post included the caption "Powell’s out!" and two flashing red siren emojis.

Lee quickly deleted the post, admitting he shared the image without verifying its authenticity. "It looked like a real resignation letter, but after a few seconds I realized no one was reporting it, so I decided to be cautious and delete the post," Lee explained.

Senator Mike Lee attends a hearing on 10/7 in Washington. Photo: Reuters

Senator Mike Lee attends a hearing on 10/7 in Washington. Photo: Reuters

According to The Hill, the fake resignation letter contained several spelling errors, while the image of the Fed's seal was inaccurate and appeared to be AI-generated. The letter stated, "After much deliberation, I have decided to resign from my position as Chairman of the Board of Governors of the Federal Reserve System, effective at the end of business today, 22/7/2025."

Benny Johnson, a conservative political activist, also fell for the fake news and shared the image on his personal account. "The Jerome Powell resignation letter is fake. Please do not share it. My apologies. Very embarrassing. I still very much want him to resign though," Johnson wrote on X shortly before deleting the post.

Jerome Powell, appointed by former President Donald Trump in 2017, has faced ongoing criticism from the White House in recent months for not lowering interest rates. Powell has repeatedly stated he will not resign, even if directly requested by the US president.

The Fed seal on the fake Powell resignation letter. Photo: X/BennyJohnson

The Fed seal on the fake Powell resignation letter. Photo: X/BennyJohnson

Last week, President Trump reportedly consulted a group of Republican House members about whether to fire Powell. However, he seems to have changed his mind and will allow Powell to serve the remainder of his term, which ends in 5/2026.

"I think he's done a terrible job, but he's close to the end of his term anyway. He will be out in 8 more months," Trump said.

Senior White House officials are reviewing the $2.5 billion allocated for renovations to the Fed's headquarters in Washington, D.C. The review is being led by Deputy Chief of Staff James Blair and Budget Director Russell Vought. Neither official has confirmed whether this move is intended to pressure Powell.

Thanh Danh (Via The Hill, CNBC, Axios)