Wells Fargo CEO Charlie Scharf gave CNBC’s Jim Cramer a optimistic learn on the patron panorama.

“The buyer’s been extraordinarily resilient,” he stated. “We do not sit right here and say dangers do not exist — However what we see appears to be like fairly, fairly robust.”

In keeping with Scharf, shopper spend goes up “at a really measured tempo” in each debit and bank cards. Deposit balances, he added, stay robust and credit score high quality is “nonetheless performing extraordinarily properly.” He praised the Federal Reserve, saying the central financial institution managed the economic system properly underneath troublesome circumstances.

Wells Fargo’s most up-to-date quarter topped Wall Avenue’s expectations, and shares surged greater than 4% final Friday simply after the report. The corporate managed a considerable earnings beat, at the same time as its internet curiosity revenue — a measure of banks’ lending income — declined. By Tuesday’s shut, Wells Fargo was up 1.40%.

Whereas Scharf stated Wells Fargo does care about its quarterly outcomes, he prompt the market can obsess over stories greater than administration does. He identified that the inventory fell after final quarter however jumped after the newest one — despite the fact that tendencies are “not dramatically totally different,” and techniques, in addition to progress on constructing enterprise hasn’t modified considerably.

Scharf additionally remained impartial when requested about what outcomes of the upcoming presidential election may imply for enterprise.

“We’ll work with either side,” he stated. “I am inspired by what each candidates are saying about the best way they wish to work together with enterprise.”

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Disclaimer The CNBC Investing Membership Charitable Belief holds shares of Wells Fargo.