The Federal Open Market Committee is most likely to cut interest rates again to 4.25% to 4.5% on December 18 according to fixed income markets.

By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Governor Christopher Waller said on Monday he was inclined toward a cut in the benchmark interest rate at the central bank's Dec. 17-18 meeting as policy remained restrictive enough to keep putting downward pressure on inflation,

The last two Fed meetings resulted in rate cuts. Short-term CD rates have continued to lower, but some long-term CD rates are rising back up again.