 on the economy inflation in the u.s is slowing again after higher readings earlier this year according to fed reserve chair jerome powell while we added that more such evidence would be needed before the central bank could cut interest rates speaking at a panel discussion at the european central bank's monetary policy conference this week in portugal the fed had said officials still want to see annual price growth come down further toward their two percent target before they feel confident of having fully defeated high inflation a target that is still at least a year away according to powell sitting here last year