“discount revenues, when you look forward and look at growth, are going to look about like they did this quarter. I think you'll see a tail-down slightly, because you have a little bit of Omicron tailwind maybe in January and February.”

In context

“u. The next question is coming from Betsy Graseck of Morgan Stanley. Please go ahead. Betsy Graseck: Hi good morning. Steve Squeri: Good morning, Betsy. Betsy Graseck: Hi, I did want to just ask an overarching question on top-line growth drivers from here. And I know we have already spoken about a couple of different line items. I think U.S. and large corporate is still something we could unpack a little bit. But I would also like if you could just, from your vantage point, give us where you think the growth drivers are from here, which 1Q extremely strong? Thanks. Jeff Campbell: Well, many senses [ph] Betsy, I would almost just point you to the first quarter results, because I think one of the drivers of our confidence is the breadth of strength we see across all the lines of the P&L. So discount revenues, when you look forward and look at growth, are going to look about like they did this quarter. I think you’ll see a tail-down slightly, because you have a little bit of Omicron tailwind maybe in January and February. But volumes look good, and that’s going to continue to be a nice double-digit driver of growth. We have grown net card fees in double digits consistently for year’s right through every single quarter of the pandemic, and they’ve been above 20% for the last couple of quarters. That’s going to continue, because what we constantly have to remind people of is it’s not particularly increases in fees for any given card to drive that, although it helps. It’s mostly the steady acquisition that Steve talked about; more people are on higher fee-paying cards. Net interest income, as I said, I think our overall loan balance growth will probably continue to be higher than it was pre-pandemic, but moderate a bit as our customer’s kind of get through the process of rebuilding balances. I think – I don’t”