“It’s Going to be Hard to Avoid Some Kind of Recession” – Wells Fargo’s CEO Warns US is Heading Economic Downturn Sunday, May 22, 2022 By Stillness in the Storm Leave a Comment (Jim Hoft) On Tuesday, Wells Fargo & Co. CEO Charlie Scharf said that there’s “no question” of an economic downturn in the US, and recession will be hard to avoid.