Abstract: The rising and falling in the stock market in China is the most obvious characteristics. The government often intends to make use of some policies and measures consciously to adjust to the movement of the stock market. Whether it is necessary to carry on a macroeconomic adjusting policy in the stock market and how to control it have been controversial topics. The text tries to carry on a comprehensive comment to the content of macroeconomic policy in the stock market, and analyzes the impossibility in theories and reality from the point of theoretical inconsistency and the theory of time consistency. At last the author concludes that macroeconomic policy in the stock market is unnecessary and it should be delayed.