Summary List PlacementBillionaire investor Paul Tudor Jones told CNBC on Monday he'll bet big on rising inflation if the Fed remains unconcerned about recent economic data showing soaring consumer prices. The Federal Reserve's policy meeting this week could be the most important one of Jerome Powell's career, Jones said, because there's been so much data that has challenged the Fed's current stance that inflation is transitory. The last two consumer price index readings put inflation well ahead of the Fed's 2% target, the hedge fund manager said.