Ironside's Knapp Sees 10%-12% Market Pullback in Fall

The transcript discusses the potential market reactions to tapering by the Federal Reserve, focusing on three main channels: psychological effects, real rates, and volatility. The volatility channel is highlighted as the most significant, with the Fed's actions on mortgage-backed securities influencing market volatility. Predictions include a market pullback of 10-12% due to policy changes, with a potential recovery by year-end.

What factors contribute to the anticipated pullback in the market as discussed?

What does the speaker predict about the market's behavior after the anticipated pullback?