The Fed upgraded its estimate for inflation to 4.3%, explains Jeff Schulze, Investment Strategist at ClearBridge Investments. Market turbulence around military conflicts is typically short-lived. Typically it takes about three weeks for the markets to bottom and about three weeks to recover, and we hit that, he explains. The U.S. consumer is better positioned for higher energy prices than 10 years ago with cash waiting, he adds. He says recession risk remains low. He thinks the energy and materials sectors are good for the longer term horizon.