Wells Fargo Releases Economic Outlook

According to the Wells Fargo Investment Institute Midyear Outlook, global farm commodity supplies remain sizable. Retaliatory tariffs are also seen as negative for the ag sector. The report states that tariffs create short-term inflationary pressure, and the Fed is expected to adopt a more reactive approach to monetary policy. Wells Fargo anticipates two interest rate cuts between now and the end of 2026.