 Federal Reserve Chairman Jerome Powell says the U.S. has made a lot of progress in curbing inflation. NPR's Scott Horsley reports Powell warns it could be late next year, though, before price stability is restored. Speaking in Portugal at a forum sponsored by the European Central Bank, Powell says he's encouraged to see price hikes cooling in recent months. He was reluctant to lay out a timetable, though, for when he and his colleagues might be ready to start lowering interest rates.