In his first inaugural address, roosevelt said, "the only thing we have to fear is fear itself." what did he mean?

He basically said "It's all good in the hood. We just need to chill, we ain't got no problem. Nothing here to be scared of."

FDR was inaugurated in 1933 when the world was experiencing a terrible economic depression and also when the Nazis were rising to power in Germany. So I think he meant that if the American people are not afraid to face the challenges that a positive attitude could help resolve the economic problems and though the WWII hadn't started yet, he probably intimated that by being unafraid of the Nazis they could definitely be defeated.

Is the choices or no ?