“but we also have one potential tailwind, I'll call it, and that is the pace of card growth relative to the rest of the balance sheet.”

In context

“, obviously, there was a big beat on the net interest margin and the Fed has begun easing. I'm just curious if you could maybe just talk about the drivers and expectations from the margin -- for the margin from here. And just given you've historically operated in this kind of 6.8% or 6.9% range. But given the balance sheet -- the changing balance sheet dynamics, do you think we've sort of broken out of that range? Thanks. Andrew Young: Yes, Ryan. Look, as I think about the NIM in the near term, I enumerated the driving forces of what led to the increase this quarter. But in the near term outside of seasonal effects, we have one modest likely headwind, which as you can see in our disclosures, is that we're asset sensitive and so that will put a bit of pressure on NIM in the immediate term, but we also have one potential tailwind, I'll call it, and that is the pace of card growth relative to the rest of the balance sheet. And you've seen the tailwind to NIM all else equal over the last few quarters. Longer term, I think there's a few headwinds and tailwinds. The tailwind being again card even beyond the next few quarters, we've seen strong growth, particularly relative to the rest of our balance sheet. And I've highlighted in the past that our current levels of cash are likely above where we think they will eventually settle out. And if we were to see a steepening of the yield curve, that's also a good guide to us, all else equal. On the headwind side, I think there's a question of where betas go from here and there's a possibility that they could be slower or lower depending on a host of factors. We could maintain cash levels for some period of time at least, especially in light of the strong deposit grow”