Wells Fargo CEO calls consumers 'extremely resilient'
WFCWells Fargo(WFC) CNBC·2024-10-16 06:58

Wells Fargo CEO Charlie Scharf gave CNBC's Jim Cramer a positive read on the consumer landscape."The consumer's been extremely resilient," he said. "We don't sit here and say risks don't exist — But what we see looks pretty, pretty strong."According to Scharf, consumer spend is going up "at a very measured pace" in both debit and credit cards. Deposit balances, he added, remain strong and credit quality is "still performing extremely well." He praised the Federal Reserve, saying the central bank managed the ...