Zed Francis expects Wednesday will be an "event" as all eyes rest of new FOMC Chair Kevin Warsh and anticipation to how he will tackle interest rates. He notes risk being priced into the decision and whether Warsh will follow up on what his leadership will look like. "If he's true to word, basically, it means a steeper curve," says Zed. He then talks about volatility trends and the near "complete removal" of geopolitical risk and why the VIX doesn't tell the whole story. Zed also points out options trends to watch in AI chip stocks.