Janet Yellen may have a two-year tenure, Wall Street analysts said Friday.
"Their credibility is somewhat at risk and you begin to hear that around the street," Art Cashin, director of floor operations at the NYSE for UBS, told CNBC on "Squawk on the Street." "Some of the gold bugs are talking about maybe a two-year tenure for Yellen."
Thursday, gold prices saw the biggest one-day percentage rally since last September and inflation rates pointed to annual highs. On Wednesday the Federal Reserve, after a two-day policy meeting, played down the inflation rise, which has hurt longer-dated bonds and made the yield curve steeper.
"Based on this market response from both asset classes, I'm declaring Janet Yellen's honeymoon as Federal Reserve chair as officially over," said Peter Boockvar, chief market analyst at The Lindsey Group.
"This is not because I expect an imminent revolt in inflation sensitive markets to her inflation forecasts as this is always a process but because yesterday was the first time in her tenure that the market came out and blatantly disagreed with her and the committee as I believe they correctly should have. I expect this divergence to continue."
Cashin added that the market may be concerned that "things might get out of hand."
"I think the fact that she was dismissive both of the inflation and other aspects that were in there have people a little worried," he said.
Income inequality is also an issue that Yellen has yet to satisfactorily address, Cashin said. "The Fed's got a couple of credibility problems here."
—By CNBC.com staff. Reuters contributed to this report.