Jerome Powell resignation: Is the Fed Chairman quitting? Social media abuzz with rumors — what's the truth?

People on social media, especially on X, were spreading rumors that Jerome Powell, the Chairman of the Federal Reserve, would resign on Monday. Despite the rumors, a popular prediction market called Polymarket didn’t show much belief in these claims, as per reports.

A specific Polymarket betting contract called "Will Trump remove Jerome Powell in 2025?" stayed steady at just 12% chance, showing no increase even after the rumors. The rules of that contract say it will only count as “Yes” if Powell stops being Fed Chair before December 31, 2025. As of now, over $838,000 has been bet on this question, as per the Benzinga report.

Many big accounts on X are pushing this rumor, but there’s still no proof that Powell is actually resigning. This rumor comes just a few days after Donald Trump called Powell to the White House. During that meeting, Trump told Powell he was making a "mistake" by not lowering interest rates, as per the reports.


Powell stuck to his position and said the Fed would make decisions based only on economic data, not politics. The interest rates are currently at 4.25% to 4.50% and have stayed the same for three meetings in a row. Trump and the Fed have been arguing for a while about whether to cut rates or not.

Trump says inflation isn’t a big problem anymore, so he wants rates to be lower. Even though Trump often criticizes Powell, he earlier said he has “no intention” of firing him, according to the Benzinga report.

FAQs

Q1. Is Jerome Powell really resigning?
There’s no official confirmation, just social media rumors.

Q2. Why are people talking about Trump and Powell now?
Trump recently told Powell he should lower interest rates, sparking fresh debate.