Pre-FOMC Update

1:46 p.m. ET The FOMC drift (the averages drift higher into the FOMC, one reason as covered last night is suppression of volatility starting 24 hours ahead of major Fed events) has shown up as expected and on the scale expected, modest gains. SP-500 +0.1%, Dow +0.5% (Transports +0.8%), NASDAQ-100 -0.15%, Small Caps +0.35% Nothing…