Wells Fargo CEO Charles Scharf revealed that Americans and the U.S. economy aren’t ready for Federal Reserve interest rate hikes after the central bank raised rates earlier this month.
“We know rates are going up, it couldn’t be clearer,” Scharf told CNBC on Wednesday. “We know that consumers and businesses, while strong today, are going to see deterioration, and we’re going to act surprised when it happens.”
He added, that “doesn’t mean the world is coming to an end” and said, “we should do our best to recognize that and focus on what the solutions are.”…