Credit card balances up 15%, grocery spending down
Restaurants, hotels, hospitals add jobs amid four consecutive 75-bps rate hikes
Short-term rate, at 3.75% to 4%, at 15-year high
Some economists say the Fed should soon consider scaling back the fastest pace of rate increases since the early 1980s
Spending on track to slow in Q3
New 3% to 3.25% range is highest since 2008
Stock prices tumbled and bond yields rose as many investors feared a more aggressive Federal Reserve
Central bank official confident U.S. inflation will fall to 2%
Unemployment rose to 3.7%, from 3.5% in July
Powell's message may disappoint investors who were hoping for a signal that the Fed might soon moderate its rate increases