Gregory Mannarino spoke about the markets before completing its plunge nearly 400 points on the Dow Jones simply because the Fed made a comment that an increase in interest rates may be sooner than expected. Of course we have heard this sort of rhetoric from the Fed countless times with nothing coming from it.
The market is fake. The data is fake. Everything is fake – Gregory Mannarino
The interest rate scare is definitely a tactic the Fed has used to the point that even people who seem utterly clueless about what is really going on behind the scenes instinctively know the Federal Reserve is making idle threats. However the Fed is stuck in a conundrum where it may be actually forced to raise interest rates instead of just scaring the markets down temporarily.
Here are Greg’s words on the issue.