Bank of America Corporation

If everybody could take their seats, we are going to get started with what is going to be the final presentation at this conference. I do think we have kept the best to last. So, Brian, thank you very, very much for joining us. It is actually the 16th consecutive.

year. That is definitely a record. So thank you very much.

I look exactly the same as I did 16 years ago. So do you. You actually look younger. Anyway, so let's start off with just your take on the macroeconomic backdrop. We've obviously just had the Fed just came out. but I'm curious about how you're thinking about the path for the economy next year what you're seeing in terms of consumer and corporate engagement heading into 2026 and I think you have some of the best spending data and I think you do some of the best analytics around it what have you seen over the fourth quarter and what does that tell you about the outlook for next year well I