*WALL ST SLIPS AS ECONOMIC DATA FUELS RATE HIKE WORRIES - 🇺🇸 🇺🇸
- U.S. main stock indexes slipped on Thursday after unexpectedly strong inflation data and a fall in weekly jobless claims fed into fears that the Federal Reserve will keep raising interest rates to tame high prices.
It also showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, offering more evidence that the labor market remains tight. "And when you consider how strong the job market is, the expectation is that the Fed may raise rates a few more times and then get to a point when it does not need to raise anymore, but there's no reason for it to cut ."
However, signs of a sturdy U.S. economy and an acceleration in January consumer prices recently raised concerns among traders that the Fed may not hit pause on its hawkish policies anytime soon, with hopes of rate cuts later this year receding.
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