Billionaire investor David Einhorn says the Fed wants stock prices to go down and will hike rates higher than markets expect

• Greenlight Capital's David Einhorn said the Fed wants to knock stocks lower and will keep hiking rates. 
• He sees today's inflationary era as potentially caused by government spending and interest rates that have not gone high enough.
• Greenlight achieved a 36.6% return on 2022 investments. 

Billionaire investor and Greenlight Capital boss David Einhorn is gearing up for a bear market, rejecting hopes that the Federal Reserve will spare stocks when thinking about future policy moves. 

"The Fed does want stock prices lower. They've made that clear," he said on CNBC. "I think it would be better if they cared less about the stock market in either direction."