WFC · News · 20261015N

Interest Rate and Inflation Outlook

WELLS FARGO & COMPANY/MN · 2026-10-15 · Importance 17 · Surprise 24

Wells Fargo CEO Charlie Scharf said higher prices are weighing on consumer sentiment, particularly among lower-income households. He identified financing costs, inflation, higher fuel expenses, the Middle East conflict, and persistent fiscal deficits as sources of uncertainty. Management expects consumer credit quality to weaken eventually, although it said deterioration was not yet evident as of the third-quarter 2026 earnings call.

Key facts

• Simply Wall Street reported that while Wells Fargo reported Q3 earnings with higher revenue and non-performing loans edging down, the net interest margin (NIM) compressed. source
• Wells Fargo CEO Charlie Scharf said on the bank's third-quarter earnings call that 'higher prices continue to weigh on consumer sentiment' and that lower-income households 'remain more sensitive to financing costs, inflation, and higher living and fuel expenses.' source
• Charlie Scharf listed sticky inflation, the Middle East conflict and persistent fiscal deficits among the sources of uncertainty. source