When Federal Reserve Chair Jerome Powell publicly defended the central bank's independence, he found an unexpected group of supporters rallying behind him. The meme-stock trading community, known for its online activism, quickly took to social media to cheer him on.
Online Army Mobilizes
Individual investors flooded platforms like Reddit's WallStreetBets with messages of support for Powell. One user declared him "an American hero," while another called him "MY GOAT"—using the acronym for "greatest of all time." These posts garnered thousands of upvotes, showing significant grassroots backing.
Powell, who has led the Fed since 2018, has built considerable goodwill among retail investors. His stewardship during economic challenges and market highs has earned him respect. When he delivered a stern message accusing the Trump administration of using criminal prosecution threats to pressure the Fed into more rate cuts, these online investors immediately voiced their support.
Social Media Phenomenon
The support extended beyond Reddit to various platforms. Posts praised Powell's steady demeanor and no-nonsense delivery. Some users even created doctored images and videos—showing him on a concert stage or holding symbolic handguns labeled "dual" and "mandate."
"He just has aura," said Zaid Admani, a 34-year-old investor and podcast host. "He's not here to play games, and people see that." This sentiment reflects how Powell has become an online celebrity during his tenure.
Building Popularity
Investors attribute Powell's popularity to several factors. His frequent public appearances, unflappable countenance, and the Fed's role in a historic bull market have all contributed. He slashed rates during the Covid pandemic, making margin trading cheaper and fueling a new generation's market interest.
Since Powell took office in February 2018, the S&P 500 has surged 163%. Individual investors have grown into a larger portion of trading volumes, capable of moving markets. A lawyer by training without formal economics background initially, Powell has navigated U.S. monetary policy through the pandemic, inflation surges, and tariff turmoil.
Cultural Impact
The affection for Powell—sometimes called "Daddy Powell"—has spawned T-shirts, parody accounts, and countless memes. Prediction markets like Kalshi and Polymarket even allow bets on his verbal quirks, such as whether he'll say "not our job" or use his classic "Good afternoon" greeting.
Now, traders can wager on whether Powell will face federal charges. As of Monday evening, Polymarket users estimated roughly 12% odds of this happening before June ends.
Personal Connections
Some investors feel a personal connection to Powell. Allen Tran, a 28-year-old trader, keeps a Jerome Powell trading card on his desk. "He's looking at me trading," Tran said. "Judging me. Congratulating me."
Powell's response to the federal probe surprised many. Some initially wondered if the online video was a deepfake. "The Powell we've come to know over the past half-decade was more measured," said Doug Hurstell, a 48-year-old Houston trader.
Respect Across the Board
Even critics acknowledge Powell's challenges. Hurstell, who sometimes disagrees with Powell's policies, stated, "The job the guy had to do was largely unprecedented. Was he perfect? No. But he did a good job."
On WallStreetBets, user PrestondeTipp was more effusive: "This guy...threaded the needle perfectly. He'll go down as the best Fed Reserve Chair in history I bet."
As Powell's careful commentary and dry demeanor continue to resonate, he remains a straight shooter in investors' eyes. His recent stand has drawn attention away from weekend football and awards shows, highlighting his significant cultural and financial influence.
