 Update Good afternoon everybody. I'm Tommy O'Brien coming to you live from TFN and 2 p.m. Eastern time on Wednesday It is fed day. We get the decision as we speak I got charts up here live folks and we got an acceleration of positive territory before I even have the words on my chart right now We have the SMPs accelerating. Let me put it on a one minute to see the action They point to an interest rate hike in March. That is the headline to come out first We have the SMPs right now spiking higher higher up 15 points Look at that volatility. We get a two o'clock. You're positive by almost 80 points in the SMPs right now up 1.8 percent Text ox trading higher as well. I guess you take out the equation that we get a rate hike right now You take out the equation. We get a 50 places point hike as had some had thrown around not really fair Didn't see that possibility coming but nonetheless. We're seeing markets pull back a little bit We got some volatility folks We got a press conference beginning in 30 minutes with Chairman Powell and we got markets in positive territory Look at this volatility on a one-minute basis right now. We just traded up on the Nasdaq 100 100 points and then we traded back down. We're up right now 400 points in the Nasdaq 100. That's 2.9 percent. We'll call it the dial right now up 1.2 percent right now You got the Russell up almost a solid 2 percent and the SMPs right at 1.8 percent right now They point to an interest rate it hike in March trying to figure out of course as the the numbers drop Right as we come on the air at two o'clock. We got our man Dave white coming up live with the power trading hour We got my dad Tom O'Brien live from three till four should be a couple interesting hours of action here The post meeting statement from the FOMC committee did not provide a specific time for when the increase will come though Indications are that it could happen as soon as the March meeting with the info This is a quote with the inflation with inflation well above 2% and a strong labor market the committee expects It will soon be appropriate to raise the target range for the federal funds rate The statement said the Fed does not meet in February next meeting in March In addition the committee noted the central banks monthly bond buying will proceed at just 30 billion in February Indicating the program could end in March as well as at the same time as possible rate increases Talk about a market folks watch out higher prices. We go S&P's up 92 points. We just had 44 46. We got the Nasdaq 100 up for 461 points putting it back on a 15 minute basis folks We're now above where we were coming into the week wild action S&P is going to 100 Now up 500 stay tuned Dave whites coming up now And of course we got our man Tom O'Brien my dad coming up live from three till four station folks Dave white coming up next We'll be right back