The Fed is focused on inflation and the banking jitters won't stall its interest-rate increases, Jim Bianco says

• Trouble with regional banks won't impact the Fed's decision to lift interest rates, Jim Bianco said. 
• The Wall Street analyst thinks the Fed will raise rates this week and probably again next month. 
• 'If [Fed chair Jerome Powell] focuses a lot on inflation, then financial markets could struggle. If he appeases financial markets, he lets inflation go," Bianco told CNBC. 

The Federal Reserve is so focused on fighting inflation that the latest banking-sector tremors won't unsettle its policy stance that favors higher interest rates, Wall Street analyst Jim Bianco said.