Can the Fed look through an oil shock?

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Colgate-Palmolive (NYSE: CL) Delayed: 92.31 -0.84 (0.9%)
Previous Close $93.15    52 Week High $75.38 
Open $92.68    52 Week Low $61.40 
Day High $93.42    P/E 38.79 
Day Low $92.06    EPS $2.38 
Volume 3,067,859       

S&P DEP RECEIPTS (NYSE: SPY) Delayed: 770.56 -2.47 (0.32%)
Previous Close $773.03    52 Week High $219.60 
Open $774.53    52 Week Low $181.02 
Day High $774.61    P/E N/A 
Day Low $769.20    EPS $0.00 
Volume 36,812,173       

ISHARES 20+ YEAR TREASURY BOND ETF (NASDAQ: TLT) Delayed: 82.19 +0.13 (0.16%)
Previous Close $82.06    52 Week High $143.62 
Open $82.27    52 Week Low $118.66 
Day High $82.46    P/E N/A 
Day Low $82.12    EPS $0.00 
Volume 23,262,953