Wall St falls as hot inflation data dents rate cut hopes
Wall Street's main indexes hit an over one-week low on Wednesday, as a hotter-than-anticipated inflation reading added to concerns that the Federal Reserve would not cut interest rates anytime soon. U.S. consumer prices increased more than expected in January, reinforcing the Federal Reserve's message that it was in no rush to resume cutting interest rates amid growing uncertainty over the economy. "It's now calling into question not only whether or not the Fed will cut in the second half of this year ... but now it puts on the table potentially the next move even being one to the upside for rates," said Alex Coffey, senior trading strategist at Charles Schwab.
