 Inflation in the United States is slowing again after higher readings earlier this year, according to Fed Reserve Chair Jerome Powell, while adding that more such evidence would be needed before the Fed would cut interest rates. Speaking in a panel discussion Tuesday at the European Central Bank's monetary policy conference in Portugal, Powell said Fed officials still want to see annual price growth slow further toward their 2% target before they would feel confident of having fully defeated high inflation, a target that is still at least a year off, according to Powell.