“No meaningful change in that outlook there, probably a little bit of a headwind as a function of rates, as you mentioned, and some of the RWA optimization in mortgages.”

In context

“s ours. Operator: The next question is coming from the line of Matt O’Connor from Deutsche Bank. Matt O’Connor: Can you guys talk about the outlook for loan growth the next few quarters? And besides some of the obvious areas like leverage lending and correspondent mortgage you already talked about, any areas that you’re tightening around the edges? Jeremy Barnum: Yes. Matt, let me take your last question first. So, in general, no, we underwrite through the cycle. We haven’t -- we didn’t really loosen our underwriting standards in the moment where everything looked great. And so, we don’t see any need to tighten now, really a lot of consistency there. In terms of the actual loan growth outlook, we have said for this year, obviously, only one quarter left, that we’d have high single digits. No meaningful change in that outlook there, probably a little bit of a headwind as a function of rates, as you mentioned, and some of the RWA optimization in mortgages. As we go into next year, we remain very positive and optimistic about the card story across a range of dimensions, in terms of both, outstandings and revolve normalization. But for the rest of the loan growth environment, it’s going to be, I think, very dependent, especially in wholesale on the macro situation. We know that in recession environments, we tend to see lower loan demand. At the same time, we’ve got a lot of great initiatives going and client engagement and new clients. So, we’ll just have to see how that plays out next year. Matt O’Connor: And I guess, when we read headlines about home prices going down in some markets and car prices starting to roll, I mean, why doesn’t that drive some tightening in those businesses? Jamie Dimon: Well, it has. I mean look at the volumes and”