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.

In short, the Fed is seeing the best of both worlds: an economy growing steadily with inflation headed toward its target, albeit maybe a little slower than had been anticipated. The Fed confirmed this Wednesday when it released its “beige book” survey of the U.S. economy, noting growth in the economy continued although hiring was subdued.

Federal Reserve Governor Christopher Waller said on Monday he was inclined to cut the benchmark interest rate at the Dec. 17-18 meeting as monetary policy remained restrictive enough to keep putting downward pressure on inflation,