“What I was trying to say in those remarks was the impact on rising rates is continuing to impact customers on a period-over-period basis, and we would expect that to continue, but it's not accelerating.”

In context

“it may take a little time to start to see some of that come through depending on the market dynamics. Operator: The next question comes from Ebrahim Poonawala of Bank of America. Your line is open. Ebrahim Poonawala : Good afternoon. I just have one question. I guess, Charlie, in your opening remarks, you mentioned that the impact on customers from higher rates, I think you implied was not getting worse with the incremental sales. Was that the right takeaway? And if so, and if the Fed were to stop after another hike, do you actually see that the impact your customers may not be as meaningful as feared over the last six to 12 months and implications of that on the credit quality and the credit performance of your book? Would love to hear any perspective you can share. Charles Scharf: Sure. What I was trying to say in those remarks was the impact on rising rates is continuing to impact customers on a period-over-period basis, and we would expect that to continue, but it's not accelerating. It's much more linear than exponential. And the fact that it's much more linear is actually a very helpful thing because that gives people -- that's just -- that's a more orderly transition to a slower growth economy and gives consumers a chance. It shows that they're adjusting their spending patterns and saving patterns and borrowing patterns to adjust for the reality of higher rates. And on your second question, we would anticipate that we would continue to see deterioration in those metrics continue after the Fed stops raising rates, for a period just because of the amount of time that it takes those things to filter through the economy more broadly. So, hopefully, that was helpful. Ebrahim Poonawala : That's helpful. And just a quick follow-up. I think you mentioned earlier around com”