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.

Powell just a week after the meeting said the economy was "not sending any signals that we need to be in a hurry to lower rates."

The account of the central bank’s Nov. 6-7 meeting, released on Tuesday, showed that Fed officials still planned to cut interest rates further. But with the job market holding up better than expected and the economy growing at a solid clip, they are in no rush to slash them rapidly.

A top Federal Reserve official says he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view.

Federal Reserve Bank of New York President John Williams on Monday signaled support for more rate interest rate cuts over time as monetary policy remains restrictive. "I expect it will be appropriate to continue to move to a