Inflation is here to stay, at least for the near term, and it will hurt not just the markets but everyday Americans.

That is the message of Paul Tudor Jones, the hedge fund manager who founded Tudor Investment Group and who predicted the 1987 stock market crash.

"I think, to me, the No. 1 issue facing Main Street investors is inflation, and it's pretty clear to me that inflation is not transitory," Jones said on CNBC's "Squawk Box" Wednesday. "It's probably the single biggest threat to, certainly, financial markets, and, I think, to society, just in general.

"Inflation can be much worse than what we fear," Jones continued, according to an article in The New York Post. "We have the demand side of the equation, and that is $3.5 trillion [added to the federal debt, which is] greater than what it normally would [be] ... just sitting in liquid deposits.

"They can go into stocks, or crypto, or real estate, or be consumed -- so, that's a huge amount of dry power just sitting, waiting to be utilized at some point, which is why inflation is not going away."

Jones noted how inflation rose 5.4% in September, which was the highly monthly year-over-year increase since 2008.

According to a Morning Consult/Politico poll released Wednesday, 62% of registered voters think President Joe Biden’s policies are "very" or "somewhat responsible" for rising inflation,