BRIEF-Wells Fargo CEO John Stumpf says U.S. economic recovery still not as stong as it needs to be

Thu Jan 17, 2013 4:23pm EST

Jan 17 (Reuters) - Wells Fargo & Co : * CEO John Stumpf says U.S. economic recovery still not as stong as it needs to

be * Wells CEO John Stumpf: rates are too low, but wells is still able to increase

interest income * Wells CEO John Stumpf: wells is "under-sized" in wealth, retirement and

brokerage business * Wells CEO John Stumpf: volcker rule is written too broadly, worries it would

affect mortgage rate locks

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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