Gregory Mannarino: Biggest Fed Flip Flop in History

Gregory Mannarino: Biggest Fed Flip Flop in History by Greg Hunter – USA Watchdog

Analyst/trader Gregory Mannarino says the Federal Reserve just did an about-face on raising interest rates in a matter of weeks. Mannarino contends, “This is incredible and hard to get my head around.  This has got to be the flip-flop of all flip-flops.  At the last FOMC meeting, Janet Yellen was practically pounding the table talking about how they were going to be continuing to raise rates, that they are going to start unloading their balance sheet here, and then she does an absolute 180.  I am sitting there in real time watching it (this past week).  My face dropped, and the moment I heard this, I started buying everything I could. . . . I thought this is it.  The market is going to keep going higher. . . . The Federal Reserve has created a freaking monster.  These distortions are now going to get much worse because Janet Yellen has given these markets the green light to go record up, record up and record up.”

But not everything is distorted upward. The dollar is going down, and Mannarino says, “It is interesting to see what’s happening to the U.S. dollar.  It’s getting melted down. . . . Janet Yellen has promised to keep interest rates suppressed artificially.  There is no normalization in sight for the Fed balance sheet, and the dollar is going to continue its downward trajectory.”

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Greg Hunter

Greg is the producer and creator of Greg Hunter’s USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. Greg Hunter’s USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.