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A fabricated resignation letter claiming Federal Reserve Chair Jerome Powell was stepping down spread rapidly on social media, quickly debunked due to its AI-generated seal and grammatical errors. The hoax, emerging amid tensions with the Trump administration over interest rates, failed to disrupt markets, with the SP 500 steady at 6,314 and 10-year Treasury yields at 4.33%. Powell, facing calls to resign from critics like FHFA Director Bill Pulte, reaffirmed his commitment to serve until 2026.
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