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December 6, 2021

Wall Street balks as Fed signals party's ending, but is it?

  • Is it time for the Federal Reserve to “take away the punch bowl?"
    • By STAN CHOE
    AP Business Writer

    NEW YORK — The Federal Reserve's job, its longest-serving chairman once said, is to “take away the punch bowl just as the party gets going,” and that's exactly the message Wall Street took from comments by current Chair Jerome Powell last week.

    Stock prices tumbled after Powell said the Fed may halt its immense support for financial markets sooner than Wall Street expected. History suggests, however, that stocks aren't always losers when the Fed pulls back its help.


     
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