Can the Fed look through an oil shock?

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Colgate-Palmolive (NYSE: CL) Delayed: 88.77 -1.32 (1.47%)
Previous Close $90.09    52 Week High $75.38 
Open $89.53    52 Week Low $61.40 
Day High $90.54    P/E 37.30 
Day Low $88.66    EPS $2.38 
Volume 4,102,841       

S&P DEP RECEIPTS (NYSE: SPY) Delayed: 770.19 -2.98 (0.39%)
Previous Close $773.17    52 Week High $219.60 
Open $772.01    52 Week Low $181.02 
Day High $772.87    P/E N/A 
Day Low $769.00    EPS $0.00 
Volume 34,054,816       

ISHARES 20+ YEAR TREASURY BOND ETF (NASDAQ: TLT) Delayed: 82.21 +0.14 (0.17%)
Previous Close $82.07    52 Week High $143.62 
Open $82.29    52 Week Low $118.66 
Day High $82.50    P/E N/A 
Day Low $82.18    EPS $0.00 
Volume 16,591,971