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.

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 to cut interest rates less aggressively.

The Federal Reserve cut interest rates at its last two meetings–and the odds are shifting in favor of it making it a hat-trick next month. Traders think there's a 67% chance the central bank slashes borrowing costs by 25 basis points and just a 33% chance it stands pat on Dec.