The rate of inflation rose in October and moved further away from the Federal Reserve’s 2% goal, confirming a recent uptick in prices that could cajole the central bank into cutting interest rates less aggressively.

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.

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."