If the Fed continues to increase the federal funds rate to continue the f1ght against inflation (which has not yet been put under control), then more and more depositors will withdraw their money from the banks either because they need it or to put it into higher yielding short term Treasuries and money market accounts. This will f0rce more banks to sell their underwater long term low rate bonds and mortgage backed securities, sp00king investors and depositors and leading to more bank runs and bank failures.
Alternatively the Federal Reserve can give up on the inflation f1ght and pivot, keeping interest rates flat or even decreasing them. In this case the economy is at risk for structurally higher inflation for the long run as inflation expectations get anchored at high rates, as well as dollar devaluation unless the Fed can convince other banks to simultaneously pivot. There would be a small but nonzero chance of hyperinflation in this scenario if the inflation becomes runaway inflation.