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The Fed: Why the Fed may want to lurch for the stock market’s punch bowl

Everett Collection

This is not Janet Yellen and Stanley Fischer, and neither is likely to be happy about recent stock-market gains.

It was former Fed chairman William McChesney Martin who once quipped that the job of the U.S. central bank is to take away the punch bowl just when the party is getting good.

Analysts said the Fed is about to reach for it.

Stocks have soared in the wake of the decision by U.K. voters to leave the European Union.

The S&P 500 index is up 6.2% since June 24 and the Dow Jones Industrial Average has risen 5.8%.

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