The Zhitong Finance App learned that Wells Fargo CEO Charlie Scharf (Charlie Scharf) expressed a positive opinion on consumer prospects. He said, “Consumers are extremely flexible. We won't sit here and say that there are no risks, but the situation we are seeing looks similar and quite strong.” Schaff said consumer spending on debit and credit cards is growing at a “very moderate rate.” He added that deposit balances are still strong and credit quality “is still performing very well.” He also praised the Federal Reserve for managing the economy well under difficult circumstances.

The Zhitong Finance App learned that Wells Fargo CEO Charlie Scharf (Charlie Scharf) expressed a positive opinion on consumer prospects. He said, “Consumers are extremely flexible. We won't sit here and say that there are no risks, but the situation we are seeing looks similar and quite strong.” Schaff said consumer spending on debit and credit cards is growing at a “very moderate rate.” He added that deposit balances are still strong and credit quality “is still performing very well.” He also praised the Federal Reserve for managing the economy well under difficult circumstances.