Senator Mike Lee, a Republican from Utah, made quite a splash recently. He tweeted out a doctored resignation letter that purported to be from Jerome Powell, chairman of the Federal Reserve. Through these comments, misinformation has bubbled up, as former President Donald Trump continues his tirade against Jerome Powell. Trump has repeatedly demanded Powell’s resignation over his monetary policy.
Most noteworthy, the letter foreshadowed Powell’s resignation from his position. This change would be far-reaching in its positive effects on U.S. economic policy. Trump has been very vocal about his desire that the Federal Reserve sharply cut interest rates. He’s counting on this thinking to strengthen residential economic development. Though he would like Powell to step down, Trump’s pressure campaign has not changed $name’s status as Fed chair—he hasn’t quit.
On his verified personal X account, Lee rejoiced, “Powell’s out! He posted a fraudulent letter that suggested he vanquished the media. After admitting he came to accept that the letter was a fake, he soon deleted the post in the first place.
When that letter was subsequently revealed to be AI-generated, it sparked a discussion about the proliferation of misinformation across social media platforms. Notably, conservative media personality Benny Johnson promoted the fake letter briefly on his social media. He would go on to concede his error in a subsequent post.
“The Jerome Powell letter is fake. Please don’t share it. Sorry. Bad look,” – Benny Johnson
Lee’s office did not immediately respond to CNBC’s request for comment about what happened. The rapid dissemination of the fake letter reflects the contentious atmosphere surrounding Powell’s leadership at the Federal Reserve, particularly with Trump’s ongoing critique.
Whatever happens next, the story serves as a cautionary reminder of the dangers posed by political misinformation in our democracy. Powell is feeling heat from all sides, including from Lee and Trump. His fate, at least for now, as captain of the Federal Reserve appears less assured.