NEW YORK ( ETF Expert) -- In recent weeks, stock market volatility has been rising due to uncertainty surrounding whether or not the Federal Reserve would curb its money-printing-for-bond-buying program. Yet, this week's data, coupled with comments by Fed officials, should have assuaged fears related to the tapering of those bond purchases.For example, U.S. manufacturing data via the Institute of Supply Management (ISM) logged its worst reading in four years. Similarly, the folks at Bespoke presented research that showed positive economic surprises at a 15-year low. Who is going to claim that the economy is on solid footing with stats like these? Meanwhile, a governor of the Federal Reserve's board publicly expressed that the 7.5% rate of unemployment understates the scope of the unemployment dilemma. Similarly, Fed Bank of Atlanta President Dennis Lockhart reaffirmed the central bank's commitment to emergency stimulus. So why have erratic price swings persisted into June? Why is the CBOE S&P 500 Volatility ( VIX), also known as the "fear gauge," still pushing higher?