Wells Fargo CEO Sees 'More Downside' to U.S. Economy as Lower-Income Consumers Struggle

Wells Fargo CEO sees 'more downside' to U.S. economy as lower-income consumers struggle

Wells Fargo CEO Charles Scharf commented on the state of the economy the day after JPMorgan Chase CEO Jamie Dimon said jobs data shows the economy is weakening.

Wells Fargo CEO Charles Scharf raises concerns about US wealth disparity - CEO North America

Following the release of the PYMNTS Intelligence report “Financial Fragility in the Middle: How Income and History Shape Consumer Risk,” Wells Fargo CEO Charles Scharf has voiced concern that, while corporations and wealthier consumers are doing well, lower-income Americans are struggling to make ends meet due to rising prices. This week’s report found that the proportion of U.S. consumers living paycheck to paycheck increased by 3.5 percentage …

Wells Fargo CEO sees ‘more downside’ to U.S. economy as lower-income consumers struggle

Wells Fargo CEO Charles Scharf said Wednesday that while corporations and higher-income consumers are thriving, lower income Americans are struggling to stay afloat.The bank's data shows that "companies are in really great shape" and spending and debt repayment rates among all income levels has been steady, but there are signs of stress among lower earners,…