Dudley: Fed may have to hike at faster pace if inflation were to go well above 2% target

Bank of America tops profit, revenue expectations

Bank of America Corp. said Monday that first-quarter profit rose, continuing the string of better-than-expected earnings from the nation’s biggest banks. Quarterly profit at the Charlotte, N.C.-based bank was $6.92 billion, compared with $5.34 billion a year ago. Per-share earnings were 62 cents; analysts had expected 59 cents per share.

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