A fake, AI-generated resignation letter claiming to be from Federal Reserve Chair Jerome Powell went viral, fooling several Trump-aligned figures including Senator Mike Lee, who shared and then deleted the letter.
The hoax sparked confusion and briefly caused spikes in cryptocurrency prices as rumors of Powell's departure spread across social media. The incident highlights the growing risks of AI-generated misinformation in politics and financial markets. Despite the viral letter, Jerome Powell has not resigned, and the Federal Reserve confirmed the letter was a forgery.
The episode has renewed scrutiny on the spread of fake news and the susceptibility of public figures to online disinformation.
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