(DCNF)—Editor-in-chief of Forbes and Republican businessman Steve Forbes ripped into Federal Reserve Chairman Jerome Powell on Wednesday on Fox Business’ “Kudlow,” telling Powell to focus on having a “stable value for the dollar” instead of mouthing off about tariffs.
Powell claimed to a panel on July 1 that the U.S. central bank would have lowered rates by now if President Donald Trump had not imposed sweeping reciprocal tariffs against a handful of countries, according to CNBC. Forbes discussed two key Republicans — former Fed Gov. Kevin Warsh and Trump’s top economic adviser Kevin Hassett — who are reportedly eyeing Powell’s position. Host Larry Kudlow asked Forbes about a potential change.
“Well, we have to see whether they can have a lot of those economists do something useful for humanity, like becoming Uber drivers. I don’t know what you can do in terms of replacing them,” Forbes said. “But in terms of the Fed governors and the like, I think what Secretary of the Treasury [Scott] Bessent and the president have to do is start laying the intellectual foundation [of] why the way the Fed operates is all wrong. Their philosophy is all wrong.”
“Prosperity does not cause inflation,” Forbes added. “The Fed has a really anti-growth bias, as you well know, and their focus should be not on trying to manipulate the economy. That did not work with the Soviet Union, and the feds made a hash of it here. They should focus on having a stable value for the dollar, what you would call King Dollar. That’s what should be their sole focus.”
Just days after Trump’s “Liberation Day,” Powell began to vocalize his uncertainty about the tariffs at an event, predicting a short-term increase in inflation due to the policy change. However, the Fed chairman said that “avoiding that outcome would depend on keeping longer-term inflation expectations well anchored, on the size of the effects and on how long it takes for them to pass through fully to prices.”
In response to Powell’s concerns, Trump took to Truth Social to write that it would be the “perfect time” for Powell to cut rates before adding that the chairman needed to “stop playing politics.” Despite repeated calls for the interest rates to be cut from the president, by June the Fed announced in its fourth meeting of 2025 that it would continue to maintain its target range at 4.25% to 4.5%.
“So this thing on tariffs, the chairman mouths off about tariffs. There’s nothing the Fed can do about the effects of tariffs and the idea that if prices do go up, just for argument’s sake, there’s nothing the Fed can do about it,” Forbes said.
“So what do they want to do?” Forbes asked. “They want to depress the economy because they don’t like the effect of tariffs? That’s not their business. Their business is one thing only, stable value for the dollar, so we can trust the dollar again. How about that?”
Prior to reports of the Fed chairman potentially being replaced, tensions between Powell and Trump had risen, with the president calling for the chairman’s resignation. Trump once again took to Truth Social on July 2, reposting a Bloomberg article saying the head of the Federal Housing Finance Agency is now calling on Congress to investigate Powell.
“‘Too Late’ should resign immediately!!!” Trump wrote.
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Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.