Strategic Frontier's Goerz expects 5 or more rate hikes by '23

Money Life with Chuck Jaffe

David Goerz, chief investment officer at Strategic Frontier Management, sees trouble ahead for a market that is overvalued, with an economy that he believes is headed for trouble unless government spending is reduced and with a bond market that he finds troubling. Goerz expects the Federal Reserve to hike rates once this year, and says there will be four -- but as many as eight -- rate increases next year, with the hope being that many hikes will ultimately return the economy to normal by the end of 2023. Also on the show, Mark Newton of Newton Advisors says the market's technicals suggest a 10 percent correction is in the cards playing out right now, but that the market is likely to rebound from that into the end of the year, plus legendary activist investor Phillip Goldstein talking about the diminishing rights of shareholders in closed-end funds, and Arynton Hardy of Hardy Capital Investments talks ETFs in the Market Call.