A fake, AI-generated resignation letter purportedly from Federal Reserve Chair Jerome Powell went viral, fooling Republican Senator Mike Lee and several conservative influencers.
The letter, which was quickly debunked, sparked widespread misinformation online and briefly caused volatility in cryptocurrency markets, with Bitcoin and XRP prices spiking on the rumors. The incident highlights the growing risks of AI-generated disinformation in politics and finance, as well as the eagerness of some political figures to believe and amplify unverified claims. The hoax comes amid ongoing political tensions between President Trump and Powell, with some Republicans openly wishing for Powell's departure.
Ultimately, Powell has not resigned, and the viral letter was confirmed to be a fabrication.
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