Kashkari raised an interesting point: if inflation sticks around long enough, public confidence in the Fed will eventually erode.

But here's the kicker—most people already aren't buying what the Fed is selling.

This matters more than you'd think. When central bank credibility weakens, markets get jittery. Inflation expectations become unanchored. People who've gotten burned by rising prices start making different moves with their money—some toward hard assets, some into crypto.

The real question isn't whether it *could* happen. It's whether we're already there.