The US Federal Reserve’s monetary policy meeting this week is shaping up as a crucial milestone for markets gripped by inflation indecision as another heavyweight investor attacks the Fed’s relaxed stance on prices.

Paul Tudor Jones is the latest prominent investor to take a stand against loose American monetary policy settings. The billionaire hedge fund veteran told CNBC that inflation is not likely to be transitory, and the US central bank is risking its credibility by pushing ahead with ultra-easy policies as it strives to meet its unemployment and inflation targets.