“We still have a path to getting less than $53 billion in 2026.”

In context

“ings, do we get from the 9% in the first quarter to that magical double-digit return target for next year? Mark Mason: Again, as we talked about before, it is a combination of continued momentum on the top line, and this is Jane's point around how that mix may evolve. But you know, the 3% plus that we're expecting this year, and again in 2026 is an important contribution to that. You often see in our business where one business may be under pressure, the other one tends to outperform and overcompensate, whether it be banking fees and how those evolve, but volatility that may come with that that uplifts the market's business. So that continued focus on top-line performance will be important. You've heard me reaffirm the expense target for 2025 in terms of getting down to the $53.4 billion. We still have a path to getting less than $53 billion in 2026. That will be important. Obviously, if revenue softens there, we will see expenses come down in tandem with that. Combination of volume-related transaction costs, but other levers that we will look to pull in the productivity savings we expect to come from prior investments is an important aspect as well. And then we've continued to optimize the use of our balance sheet. And the capital that we have. You see that we have brought our CET1 down to 13.4%. We're continuing to return capital. Those become very important aspects to getting to that target. Now look, it's uncertain. And how the world evolves is hard to forecast at this point. Right? So could a stressed macro environment create an impact on credit and the build of reserves? Absolutely. Right? That could happen towards the end of 20”