Pre-FOMC Update

1:36 p.m. ET The FOMC policy statement is out at 2:00 p.m. ET and Fed Chair Powell’s press conference at 2:30 p.m. ET. The market has priced in 100% odds of a 50-bp rate hike from the Fed today, that will be the biggest rate hike since the Fed popped the Dot-Com bubble, and it…