BREAKING: Did Jerome Powell Just Step Down as Fed Chair? The Truth Behind the Rumor

Rumors are swirling—but let's cut through the noise. The financial world's buzzing with speculation about Jerome Powell's status at the Federal Reserve.

Here's what we know.

No resignation letter. No emergency press conference. Just the usual market chaos and a fresh wave of Twitter-fueled paranoia.

Meanwhile, Wall Street's already pricing in three different scenarios—because nothing says 'stable monetary policy' like hedge funds gambling on Fed chair musical chairs.

Stay skeptical. The only thing more volatile than Powell's next move? Crypto markets reacting to unconfirmed tweets.

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

Claim	Jerome Powell resigned as Fed Chair.
Verdict	False
Fact-Check by Coinpedia	However, there is no credible evidence or official statement to support the claim that Jerome Powell has resigned. The “resignation letter” posted online is fake. There is no announcement from Powell or the Federal Reserve, and he is still doing his job.  This rumor is an example of why it is important to check facts and trust only official sources.

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