{"id":2185,"date":"2023-07-03T04:55:14","date_gmt":"2023-07-03T04:55:14","guid":{"rendered":"https:\/\/prendergast.net\/?p=2185"},"modified":"2023-07-03T04:55:14","modified_gmt":"2023-07-03T04:55:14","slug":"fed-will-raise-rates-to-6-in-2023-gold-could-hit-10k-by-2025-tom-luongo","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=2185","title":{"rendered":"Fed will raise rates to 6 in 2023 gold could hit 10k by 2025 &#8211; Tom Luongo"},"content":{"rendered":"<div id='post-thumb'><img alt='' src='https:\/\/markethive.com\/uploads\/david-ogden\/images\/blog_366911.gif' style='height:1px; width:1px' \/><\/div>\n<h1>Fed will raise rates to 6% in 2023, gold could hit $10k by 2025 &#8211; Tom Luongo<\/h1>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"329\" src=\"https:\/\/www.youtube.com\/embed\/B4dsDLrBZZ0\" title=\"Fed will hike to 6%, 'nuclear' bank implosions coming as Powell focuses on real mission - Tom Luongo\" width=\"740\"><\/iframe><\/p>\n<p>The Federal Reserve will hike interest rates to 6 percent in 2023, according to Tom Luongo, Publisher of Gold, Goats &#39;n Guns.<\/p>\n<p>Luongo had correctly forecast in 2022 that Fed Chair Jerome Powell would continue to hike into the 4.5 to 6 percent territory in 2023, when many analysts were forecasting a pivot or pause.<\/p>\n<p>&quot;I think he [Powell] will raise again, and possibly even raise multiple times before the end of the year,&quot; Luongo told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News. &quot;We&#39;ll wind up somewhere around 6 percent by the end of the year.&quot;<\/p>\n<p>Since March of 2022, the Federal Reserve has raised interest rates by 500 basis points in an effort to reduce inflation, which reached a peak of 9.1 percent in June of 2022.<\/p>\n<p>The Federal Funds Rate is currently in a range of between 5 and 5.25 percent.<\/p>\n<p>The Fed had previously slashed rates to zero in 2020 to help the U.S. government facilitate COVID-related relief. This, analysts claim, led to high inflation in 2022.<\/p>\n<p>Luongo said that Powell was &quot;forced&quot; into a loose monetary policy, even though he personally was against it.<\/p>\n<p>&quot;Powell has always been a hard money guy,&quot; Luongo explained. &quot;I think that COVID forced him into policy he didn&#39;t want.&quot;<\/p>\n<p>To find out why Luongo thinks that high inflation will return, and what the Fed will do about it, watch the video above<\/p>\n<p>Banking &#39;Implosion&#39;<\/p>\n<p>As the Fed tightens monetary policy, Luongo expects more bank failures across the United States.<\/p>\n<p>&quot;I just see the entire banking system imploding, detonating like a nuclear bomb,&quot; he said.<\/p>\n<p>The U.S. banking system faced uncertainty following the failures of four major banks early this year. The latest bank to fail, First Republic, had over $200 billion in assets under management, making its collapse the second-largest in American history.<\/p>\n<p>Luongo sees commercial real estate loans, which many regional banks are exposed to, as a catalyst for the next series of bank failures.<\/p>\n<p>&quot;You&#39;ve got 20 percent vacancy rates in hot markets like Dallas and Miami,&quot; he observed. &quot;[Regional banks] are exposed to a lot of commercial real estate&hellip; all credit-based assets are going to deflate.&quot;<\/p>\n<p>To find out whether Luongo believes that another bank collapse would cause Powell to pivot, watch the video above<\/p>\n<p>Gold<\/p>\n<p>As the banking system collapses and the economy enters a recession, Luongo is forecasting that hard assets like gold will benefit.<\/p>\n<p>&quot;If we look at the 1970s as a model, we are looking at $8,000 to $10,000 in gold minimum, over the next couple of years,&quot; he forecast. &quot;If the dollar collapses on the other side of Jerome Powell, then things could get very interesting for gold and gold investors.&quot;<\/p>\n<p>To find out Luongo&#39;s outlook for gold miners, watch the video above<\/p>\n<p>By<\/p>\n<p>Cornelius Christian<\/p>\n<p>For Kitco News<\/p>\n<p><a href=\"https:\/\/kms.kinesis.money\/signup\/KM13461268\">Time to Buy Gold and silver<\/a><\/p>\n<p><\/p>\n<p>Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fed will raise rates to 6% in 2023, gold could hit $10k by 2025 &#8211; Tom Luongo The Federal Reserve will hike interest rates to 6 percent in 2023, according to Tom Luongo, Publisher of Gold, Goats &#39;n Guns. Luongo had correctly forecast in 2022 that Fed Chair Jerome Powell would continue to hike into &hellip; <a href=\"https:\/\/prendergast.net\/?p=2185\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Fed will raise rates to 6 in 2023 gold could hit 10k by 2025 &#8211; Tom Luongo<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[290,291],"_links":{"self":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2185"}],"collection":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2185"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2185\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}