The asset and wealth division helped drive the results, posting its highest quarterly revenue in two years on a gain tied to the sale of its Personal Financial Management unit.
Inflation is still not under control so cuts may be smaller than expected.
Greenback gains alongside less risky assets ahead of Waller speech.
Morgan Stanley analyst says forecasts have set the stage for surprises.
Geopolitics and higher rates are weighing on sentiment.
The agreement with federal prosecutors ends a years-long investigation and allows the bank to avoid criminal charges.
The bank said the windfall may continue this year; its earnings also included a $2.9B charge for an FDIC special assessment related to last year's bank failures.
Strategists say an early rate cut could be delayed if prices keep rising.
Haven demand is growing as investors fear escalating tensions.
Nascent secondary market is expected to see record pace of activity as investors seek liquidity.
