Wells Fargo CEO Charlie Scharf is speaking and is speaking positively about the economy. With data stalled due to the government shutdown, anecdotal comments are helpful:

• We see strength almost across the board in all of our businesses

• Consumer spending is up in debit and credit

• Environment is almost perfect for consumer

• Businesses are performing well, credit is strong

• People aren’t sure about the future, so they are very cautious

• We don’t see cracks in the banking system

• We don’t see things getting worse yet

• I don’t see private credit as a major systemic issue

• Conversations with Trump administration are focused on economic growth, not deregulation

The more positive comments are in contrast with JPMorgan Chase CEO Dimon who is consistently more negative about the economy.