STORY: The US Federal Reserve is preparing investors for a long fight against inflation. Fed Chairman Jerome Powell said at the Jackson Hole, Wyoming central bank symposium on Friday that restoring price stability will require tightening monetary policy for “some time”. To do this, the tools would have to be used “powerfully”. The statements are seen as a signal that the Federal Reserve will adamantly continue its course of raising interest rates and that easing is out of the question for the time being. The Federal Reserve has steadily increased the monetary policy level since the interest rate hike in March and most recently raised it sharply by 0.75 percentage points twice in a row – to 2.25 to 2.50 percent. Puzzling is how high the next rate hike will be. Powell said that would depend on data, which may mean inflation and jobs data in particular.