An image authentically depicts a resignation letter from Jerome Powell, the chair of the Federal Reserve Board.
In July 2025, an image circulated online that appeared to depict a letter of resignation from Jerome Powell, the chair of the Federal Reserve Board. U.S. President Donald Trump and others have long voiced criticism of Powell, who has held his position at the Federal Reserve since 2018.
One X post (archived) had received more than 191,400 views as of this writing. The image also spread to Facebook (archived) and dozens of Snopes readers searched for answers.
(X user @JPATrades)
The letter read:
July 22, 2025
The President
The White House Washington, D.C.
Dear Mr. President.
After much reflection, I have decided to resign from my position as Chair of the Board of Governors of the Federal Reserve System, effective at the close of business today, July 22, 2025.
Serving as Chair of the Federal Reserve has been the honor of my professional life. Over the past years. I have worked alongside dedicated colleagues to guide the U.S. economy through extraordinary challenges — from the pandemic recovery to inflationary pressures and the ongoing evolution of digital finance. I am proud of what we have accomplished.
However, at this critical juncture, I believe new leadership is needed to carry forward the important work of the Federal Reserve and to reinforce public confidence in its independence and effectiveness, My decision comes from a deep commitment to preserving the institution’s credibility, integrity, and mission.
I remain confident in the strength and resilience of the American economy and in the professionalism of the Federal Reserve staff. I am grateful for the opportunity to have served, and I extend my full support to my successor as they continue the vital work of fostering maximum employment and price stability.
Respectfully,
Jerome H. Powell
Chairman
Federal Reserve Board
Utah Sen. Mike Lee, a Republican, posted the image with the caption “Powell’s out!” before deleting the post. “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 reporters on July 22.
The Federal Reserve Board, in an email to Snopes, declined to comment on what a spokesperson referred to as “the fake letter.”
The image is indeed entirely fake; Powell did not resign and as of this writing continues to hold his position as chair of the Federal Reserve Board (archived).
Other Republicans, including House Speaker Mike Johnson, expressed “disenchantment” in July 2025 with Powell. When reporters asked Trump for comment on July 22, 2025, he said: “I think he’s done a bad job, but he’s going to be out pretty soon anyway. In eight months, he’ll be out.”
The most obvious indication of AI generation was the supposed “seal” of the Federal Reserve Board, which in this image consisted of illegible lettering. “Board of Governors” appeared as something similar to “OEDO OF GOVERYAEB” and “Federal Reserve System” appeared as something like “EINEBAL RESERVE SIƎI⛛A.” Below, we compare the real Federal Reserve seals with the fake one:
(Getty Images)
There are also numerous grammatical errors. For example, “over the past years” appears as an independent sentence, letters are inexplicably capitalized, etc. AI-detection software Hive.com found the image of the letter to be 97.9% likely to have been AI-generated.
(Hive.com)
Additionally, if Powell had resigned, credible news outlets would have reported the news and his office would likely have given a statement to the press. Neither has occurred. DuckDuckGo results (archived) using the keywords “Jerome Powell resignation letter” showed results primarily related to the false claim, not actual events.
On July 24, Trump will visit the Federal Reserve in an escalation of his administration’s campaign against Powell, who Trump appointed in 2017. Powell has stated in the past that he will not step down and has reminded reporters that the president does not have the ability to fire or demote him.