Wells Fargo & Co (WFC) Quote - XNYS | Morningstar

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Fed Officially Begins Tapering as Inflation and Supply Side Risks Take Center Stage

Senior Equity Analyst Eric Compton

Eric Compton, CFA Senior Equity Analyst

Analyst Note

| Eric Compton, CFA | Nov 3, 2021

In its latest statement, released on Nov. 3, the Federal Open Market Committee unsurprisingly held the federal-funds rate at 0.0%-0.25%. Nobody expected a change in rates at this meeting, instead tapering was the main focus. The Fed’s tapering announcement was in line with market expectations, a taper of $15 billion per month ($10 billion of treasuries, $5 billion of MBS), with room to adjust along the way. This baseline tapering should lead to the end of asset purchases by sometime in June.

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Company Profile

Business Description

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company is split into four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.

Contact

420 Montgomery Street
San Francisco, CA, 94104

T +1 866 249-3302

investorrelations@wellsfargo.com

www.wellsfargo.com

Sector Financial Services

Industry Banks - Diversified

Most Recent Earnings Sep 30, 2021

Fiscal Year End Dec 31, 2020

Stock Type Cyclical

Employees 268,531

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