### Comment:
Kinda. FOMC will cause a lot of volatility and after it is over, IV will decrease because the event is in the rear view. As you noted, Powell’s commentary also moves markets (volatility) so IV remains partially inflated for that too. However, after he’s done talking IV will continue to drop gradually as it gets further past the event since the market doesn’t immediately price in the full impact of the catalyst.

### REPLY:
Interesting.   Thank you

### END.