“So now we're going to see 90% year-over-year growth rates, no.”

In context

“numbers, and you look and you say, okay, what's really driving it? And you see a tremendous growth, right? We're seeing a tremendous growth, like 48% growth in restaurant. Lodging is huge. Airline is way up. But lodging and airlines are still below 2019 levels in aggregate. So -- and the airline industry is probably only about 85%, 90% of their capacity. And they have some staffing issues and what have you, and they're sort of canceling. So I don't think this is a pull-forward at all. I think there's a huge pent-up demand, obviously, to get out and travel and see the world or see anybody at this particular point in time. But no, I'm not really concerned about a pullback because I don't think we've gotten to a normal level yet. I really don't believe we've gotten to a normal level of T&E. So now we're going to see 90% year-over-year growth rates, no. But I look at absolute aggregate numbers, and I can't get too focused on just the growth rates. We're not at a normal level of T&E yet in our business. Operator: The next question is coming from Betsy Graseck of Morgan Stanley. Betsy Graseck : Yes. It's really great, great results here. I wanted to dig in a little bit on how you're thinking about the loan growth on the SME side. I know that's been accelerating here. Just give us a sense as to where pockets of opportunity are and how you would flex if there was a slowdown. Stephen Squeri : Look, we're -- our stated goal for our SME business is be the working capital provider for small businesses. And so I think that what we're trying to do is to be able to provide liquidity to them using cards. We've got some short-term working capital loa”