You can expect lower volatility in stock and bond prices as the Fed raises interest rates
Former Federal Reserve Chairman William McChesney Martin famously once said that the Fed “is in the position of the chaperone who ordered the punch bowl removed just when the party was really warming up.”
Ben Bernanke and, most recently, Janet Yellen have refilled the punch bowl several times over the past several years.
Johnson, Robert, "You can expect lower volatility in stock and bond prices as the Fed raises interest rates" (2016). Faculty Publications. 394.