A smaller December hike shouldn't be taken as a sign the Fed will let up on its inflation fight anytime soon
James Bullard is a voting member of the Federal Reserve's rate-setting committee
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%