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The Fed won't worry about stocks falling until panic takes over the markets, as it's focused on curbing inflation, Guggenheim's Scott Minerd said. 

In a Tuesday CNBC interview, Minerd said: "As long as the sell-off is orderly, [the Fed] are not concerned with the level of stock prices." 

"The bottom line is until we see some amount of panic here or something that gets the central bankers concerned, they are just hell-bent to get inflation under control," he added. 

Minerd mentioned the likelihood of a so-called "Fed put" materializing — the point at which the Fed comes to the stock market's rescue. Nonetheless, Fed Chair Jerome Powell has any interventions although stocks plummeted dramatically in recent weeks.

The Fed has minted it will keep on raising interest rates until inflation cools down. The Consumer Price Index soared by 8.6% in the year to May - the inflation benchmark's fastest rate of increase since December 1981. The central bank responded with its first 0.75-basis-point hike since 1996.

Prices have surged exponentially following sanctions against Russian crude over its war with Ukraine, which resulted in massive pressure on global energy supplies.

The complicated macroeconomic factors have also weighed on US stocks. The S&P 500 recently entered a bear market territory after plunging more than 20% from its January high, as the narrative of further rate hikes has left investors anxious about a possible economic recession. 

Morgan Stanley has warned that stocks could possibly dip another 10% before reaching a bottom, and cautioned a recession has become significantly more likely.

On the other hand, Powell has said the Fed isn't provoking a recession, but it is certainly a possibility. The central banker did try to calm investors by vowing to fight inflation, stressing his commitment to the job is "unconditional." 

But according to Minerd, instability in the global stock market is unlikely to sway the Fed until things escalate out of control. "The Fed and the central banks are going to press on this until they break something," he said.