Wells Fargo CEO Optimistic on 2014

NEW YORK (TheStreet) -- Wells Fargo WFC CEO John Stumpf said Tuesday he is optimistic on 2014, though he doesn't expect a "breakout year."

Here is Stumpf's full statement on the year ahead from the Goldman Sachs financial services conference.

We've seen some encouraging news in the last just few months, or actually few weeks. At the governmental level, it looks like there might be a budget coming together. So hopefully we won't have what we had in 2013, where - these self-inflicted wounds about debt ceilings and continuing resolutions and so forth. So that's a positive. Secondly, we had a good jobs number recently. We are bullish on housing. I don't think we'll see the same percentage increases, because we're coming off a pretty low base in 2013 versus 2012, but we expected it to continue to improve. The economy is adding jobs, as I mentioned. It's healing. So we're optimistic. I don't think 2014 is going to be a breakout year, but I do think it will show the continued improvement we saw in 2013. And as I'm talking with customers, especially our small-business and middle-market customers, I'm starting to hear a little more about expanding the business, building a new building, another product line, and so forth. So, as we look to the year, I'm optimistic.

 Wells Fargo shares were lower by 0.18% to $44.24 Tuesday just shy of two hours after the opening bell.

-- Written by Dan Freed in New York.

 

 

 

 

 

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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