The VIX fell today, although you wouldn’t know that volatility had decreased given today’s movements in markets, which seem fairly extreme.

The Fed has (partially) spoken. The markets are reacting, and they like what they hear.

If you are expecting the unexpected from the FOMC meeting, as they say in New York, fuggehdaboudit. The Fed is not inclined toward sudden or ill-considered thoughts, at least on the official newswire.