guggenheim partners cio scott minerd told cnbc’s audience thursday that the federal reserve will not stop raising interest rates until “something breaks” what happened minerd also said to get ready for the fed to pivot possibly as soon as november because from where he stands “cracks are forming” while his comments and the fed raising rates are certainly not bullish minerd sounded convinced that the capitulation point is coming sooner than some think but after this morning’s strong jobs report it looked increasingly likely the fed will stay the course see also us adds 263000 jobs in september as labor market tightens how will the fed respond many users on twitter including realmoneycom’s helen meisler thought minerd’s comments sounded much more bullish than just a few weeks prior minerd told the cnbc audience on sept 7 that he thought there will be a 20 correction in the sp 500 by midoctober since then the market was down about 10 why it matters many had fears about something breaking heading into the week as speculation rose about credit suisse group ags cs financial health in the following days credit suisse executives have somewhat eased fears and the stock is up more than 14 as of friday afternoon see also credit suisse floats plan for 3b debt buyback to reassure investors minerd has put himself in a good position if the fed pivots soon his prediction from yesterday will come true if it doesnt his 20 correction call from early september will appear prescient guggenheim partners has more than 300 billion in assets under management according to its website