Billionaire investor Bill Ackman says the Fed's fight against inflation may never end due to strikes and soaring gas prices

• The Federal Reserve might never win its war on soaring prices, says Bill Ackman.
• "The long-term inflation rate is not going back to 2%," the billionaire investor said Thursday.
• A recent flare-up in gas prices has fueled fears the Fed will have to hike interest rates yet again.

The Fed's battle to drag inflation down to its 2% target level might never end due to workers' strikes, rising energy prices, and several other factors, Bill Ackman warned.

The Pershing Square Capital Management boss said Thursday there's likely further frustration to come for the central bank, which over the past 18 months has hiked interest rates from near-zero to about 5.5% in a bid to tame inflation.