Morgan Asset Management Michele: The signal sent by the Federal Reserve is "don't worry."

Bob Michele of Morgan Asset Management said that in the face of escalating oil prices and heightened geopolitical risk due to the Iran conflict, the market has been in panic. However, the Federal Reserve sent a "don't worry" signal. After the Fed decided to keep interest rates unchanged on Wednesday, Michele stated that the economy is experiencing "a little short-term inflation shock," which could actually help accelerate growth. But he also admitted that he was "dumbfounded" by the Fed's decision. "They told us not to worry," said the head of the global fixed income department at J.P. Morgan. But he added that he doesn't buy it: "This will have real effects on inflation and ultimately on the labor market."