MARKET WATCH: Dow jumps nearly 500 points, U.S. stocks end sharply higher as earnings season heats up
As for rising interest rates, Charles Evans, the president of the Federal Reserve Bank of Chicago, said Tuesday during a talk at the Economic Club of New York that the Fed could raise its benchmark rate by increments of 50 basis points at least a few times this years. Evans, who is not a voting member of the bank’s interest-rate setting panel this year, indicated that the fed funds rate could eventually top 3%.

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