Fed Asset Cap Not Impacting Wells Fargo, CFO Says

The video discusses Wells Fargo's ongoing challenges with the Fed's asset cap, its financial performance, and strategic activities. It also covers the economic outlook, highlighting consumer spending and employment trends. Additionally, the impact of Brexit on Wells Fargo's European operations is examined.

What was one of the key announcements made by Wells Fargo regarding its operations?

• Merger with another bank

• Increase in interest rates

• Operating under the Fed's asset cap through the end of the year

• Expansion into new markets

How did Wells Fargo ensure there was headroom under the asset cap?

• By expanding into international markets

• By reducing institutional deposit-taking businesses

• By cutting down on consumer loans

• By increasing loan origination

What is the impact of the asset cap on Wells Fargo's day-to-day operations?

• It has no impact on daily strategic activities

• It significantly limits customer service

• It leads to increased operational costs

• It requires daily adjustments to operations

What was the expected GDP growth for the US in 2019 according to Wells Fargo?

• 2.5% to 2.6%

• 1.8%

• 2.9%

• 3.5%

What is the main concern for businesses in the current labor market?

• High interest rates

• Staffing appropriately due to a tight labor market

• Increased competition

• Lack of consumer spending

What is the primary focus for Wells Fargo in its European operations amidst Brexit?

• Resolving uncertainty to allow for effective planning

• Reducing workforce in Europe

• Expanding into new European countries

• Increasing investment in the UK

How has the uncertainty of Brexit affected Wells Fargo's business planning?

• It has forced the relocation of certain business operations

• It has led to increased investments in the UK

• It has resulted in a hiring freeze

• It has caused a reduction in customer base