A fake resignation letter claiming to be from Federal Reserve Chair Jerome Powell set off a wave of confusion after it was shared by several high-profile conservative figures on social media. While the letter was not authentic, some Republicans wished it were amid the recent friction between President Donald Trump and Powell.
Bogus letter draws quick reactions, retractions
The letter, which contained typos, an unreadable seal and apparent signs of artificial intelligence, was posted to X by Sen. Mike Lee, R-Utah, and conservative podcaster Benny Johnson. It falsely claimed Powell would step down at the close of business Tuesday, July 22.
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Both Lee and Johnson deleted their posts shortly after.
“There appeared to be one, and it occurred to me seconds after I posted it that I hadn’t seen it anywhere else, so I deleted it out of an abundance of caution,” Lee told The Hill on Tuesday.
On X, Johnson admitted the letter was fake, apologized for sharing it, and called it a “bad look.” He added, “I still want Jerome Powell to resign really bad.”
Powell remains under pressure from Trump
Powell has been a frequent target of criticism from Trump, who has repeatedly pushed for the Fed to lower interest rates, citing strong economic performance.
Powell, however, has pushed back on that narrative, warning of potential uncertainty tied to Trump’s tariff policies.
According to reports, Trump recently polled a group of House Republicans asking whether he should fire Powell. But as of Tuesday, Trump signaled he is likely to let the Fed chair serve out his term, which ends in May 2026.
“I think he’s doing a bad job. But he’s going to be out pretty soon anyway — in eight months he’ll be out,” Trump said. “He’s too late all the time. He should’ve lowered interest rates many times.”
