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.

Two Federal Reserve policymakers on Tuesday said they believe inflation is heading down to the U.S. central bank's 2% target and the job market is "solid," even as neither gave any clear steer on whether they'll support another interest rate cut later this month.

Federal Reserve Bank of San Francisco President Mary Daly said an interest-rate cut this month isn’t certain but remains on the table for policymakers.