Fact Check: Did Jerome Powell Resign as Fed Chair?

Recently, social media and news outlets were buzzing with claims that Jerome Powell, the head of the U.S. Federal Reserve, has resigned. The rumor started when Senator Mike Lee posted a letter online that looked like Powell’s resignation.

Is this true, or is it another internet rumor?

Here’s what we know.

Where Did This Claim Start?

The rumor began on July 22, 2025, when Senator Mike Lee from Utah shared an image on X. The image was a letter that said Jerome Powell was quitting his job as Fed Chair right away.

Lee’s post said, “Powell’s out!” and it quickly spread across social media. Reporter Jordain Carney saved and shared the post before it was deleted.

Was the Resignation Letter Real?

The letter is fake. The letter had many problems. The official stamp on the letter was full of jumbled symbols, not real writing. There were spelling and grammar mistakes, and the letter used strange wording. Experts who saw it said it looked like it was made by AI or a prankster.

No official announcement. The real Federal Reserve, the White House, and Jerome Powell himself have not said anything about a resignation.

After people pointed out the mistakes, Senator Lee deleted his post and admitted he could not confirm if it was real.

Why Are People Talking About Powell Leaving?

There has been political pressure on Powell lately. Some politicians, including President Trump, have asked him to quit because they don’t like his decisions about interest rates and a big government building project.

However, Powell still has time left in his job, and there is no official reason for him to leave early. Meanwhile, President Trump can’t directly fire Fed Chair Jerome Powell, whose term runs until May 2026.

Adding to the talk, Bill Pulte, head of the Federal Housing Finance Agency and a known critic of Powell, said he heard from a reliable source that Powell could resign soon.

Meanwhile, on Polymarket, bets on Powell being removed as Fed Chair by 2025 dropped to 18%, down by 5%.

Key Evidence Table: Coinpedia’s Fact Check

Conclusion