Wall Street ended sharply lower on Thursday after United States consumer prices data came in hotter than expected and subsequent comments from a Federal Reserve official raised fears the US central bank will hike rates aggressively to fight inflation.US Labor Department data showed consumer prices surged 7.5 percent last month on a year-over-year basis, topping economists’ estimates of 7.3 percent and marking the biggest annual increase in inflation in 40 years.US stocks fell further after St. Louis Federal Reserve Bank President James Bullard said the data had made him “dramatically” more hawkish. Bullard, a voting member of the Fed’s rate-setting committee this year, said he now wanted a full percentage point of interest rate hikes by July 1.
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