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No Worries on Rates Say Wells and Prologis

SAN FRANCISCO—During a ULI Fall Meeting session, John Stumpf of Wells Fargo reasoned that a 25-basis-point rise will not be a shock to either markets or consumers and may even act as a stimulus by acting as a demonstration of confidence in the strengthening economy.

By Lisa Brown | Updated on October 09, 2015

SAN FRANCISCO—During a session at the ULI Fall Meeting on Thursday, Hamid Moghadam, chairman and chief executive officer of Prologis, and John Stumpf, chairman and chief executive officer at Wells Fargo, agreed that an interest rate increase would have a minimal effect. Stumpf reasoned that a 25-basis-point rise will not be a shock to either markets or consumers and may even act as a stimulus by acting as a demonstration of confidence in the strengthening economy.

“The debate has become bigger than the rate. Now is a great time to borrow money,” Stumpf said.

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