“it is our current expectation we will face continued volatility and uncertainty and are prepared for a slower economic environment in 2025.”

In context

“more liquidity to the markets while still preserving robust regulatory oversight. Regarding trade, we also support the administration's willingness to look at barriers to fair trade in the United States. Though there are certainly risks associated with such significant actions, and we see concern playing out in the markets, and the economic uncertainty that now exists. Timely resolution, which benefits the US, and would be good for businesses, consumers, and the markets, and therefore good for Wells Fargo & Company, since we're predominantly a US bank. Wells Fargo & Company prospers when the US prospers. Though we have heard a great deal from our clients as they work through this transitionary environment, we have not seen an impact on their condition yet. This is a complicated issue, and it is our current expectation we will face continued volatility and uncertainty and are prepared for a slower economic environment in 2025. But the actual outcome will be dependent on the results and timing of policy changes. We and our customers come into the current environment from a position of strength and that should serve us well. We've managed credit well over many cycles, over the past couple of years, we have taken several credit tightening actions that have reduced our origination volume and improved our credit performance. Which should position us well if there is an economic downturn. We have a strong balance sheet, including our capital and liquidity levels. Which allow us to support our customers and clients in a variety of economic scenarios. We will continue to react to both known and anticipated policy changes and their potential effects on the economy and will continue to carefully monitor these trends and”