Mark and Cris are joined by Dante to dissect the August employment report. Despite an upside surprise, each agrees that it does not change their view of underlying trend job growth. The group also discusses the implications for monetary policy, and just as Mark is settling on “no change” to the Fed funds forecast, Cris highlights new comments from President Trump demanding rate cuts (again). With Marisa away, the crew skips the usual stats game for a different exercise: naming economic risks and opportunities that they think the market is underappreciating. © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.

 1206