(The Epoch Times)—JPMorgan CEO Jamie Dimon said on Thursday at an Irish foreign ministry event that U.S. financial markets were underestimating the possibility of a Federal Reserve interest-rate hike, a prospect he described as a “cause for concern.”
According to the latest meeting summary of the policy-making Federal Open Market Committee (FOMC), Fed officials agree on interest rate cuts, but are undecided on when it will happen. The benchmark federal funds rate—which influences business, consumer, and government borrowing costs—was left at a target range of 4.25–4.5 percent.
Some of the Federal Reserve governors echoed Chairman Jerome Powell’s view to wait for more tariff-related economic data before deciding on cuts.
However, while President Donald Trump has criticized Powell for not reducing rates, Dimon’s estimation of the possibility of a further rate increase was “higher” than anybody else’s, according to the CEO.
“The market is pricing a 20 percent chance. I would price in a 40–50 percent chance,” he said.
“I would put that as a cause for concern.”
Dimon said his calculation of a higher probability was based on price pressures, citing tariffs, the U.S. government’s immigration policies, and its budget deficit as inflationary.
Inflation in the producer price index inched a bit higher, to 2.6 percent from the prior month’s 2.5 percent, indicating economic resilience despite the Trump administration’s dynamic tariff policies.
Inflation has steadily remained at or below the 2.4 percent mark since March.
Regarding tariffs, the Trump administration has been sending out letters to numerous countries over the past days in an attempt to finalize some agreements before the Aug. 1 deadline.
Typically, when tariffs are implemented across the board on all trade partners, price increases are inevitable as sellers offset costs by transferring some of it onto customers.
The Trump administration is trying to mitigate an increase in prices by incentivizing manufacturers to set up shop in the country, and by removing longstanding trade barriers that have hindered U.S. access to foreign markets, which boosts the domestic economy.
The administration’s policies have, thus far, sustained prices and boosted employment in the economy.
U.S. jobless claims fell to the lowest levels in seven weeks, according to the latest numbers from the Department of Labor.
“The June jobs report is like a summer blockbuster—plenty of action and a surprise twist. Despite tariffs, [Washington] D.C. drama, and global headwinds, the U.S. labor market just pulled off a better-than-expected performance,” Gina Bolvin, president of Bolvin Wealth Management, said in an email to The Epoch Times.
These numbers, Bolvin says, suggest that “Main Street is still marching forward—even if Wall Street keeps glancing nervously at the Fed.”
However, Dimon cited the restructuring of global trade and global demographics as “kind of inflationary,” and described real-time data on the U.S. economy as “totally impossible to read.”
“Unfortunately I think there is complacency in markets, and (they are) a little desensitized,” he said.
The S&P 500 Index has recovered all losses following the April tariff announcement fall, and is trading at $6,258 as of 12:35 p.m. ET, July 11, an increase of more than 6 percent from the start of the year.
Reuters and Andrew Moran contributed to this report.
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.