In this week’s episode of The TreppWire Podcast, we unpack major labor market revisions, revealing that job growth was overstated by 911,000 jobs over the past year. We analyze recent data that strengthens the case for a 25-basis-point rate cut at the upcoming Fed meeting. We also dive into Treasury Secretary Scott Bessent’s op-ed, which critiques the Federal Reserve’s post-2008 monetary policy shift. In commercial real estate, we analyze a NAIOP report pointing to cooling demand in the industrial sector and share Trepp’s data on industrial delinquency. We discuss the latest return-to-office developments, with Paramount joining the list of companies enforcing mandates. Turning to office-to-resi conversion trends, we spotlight Washington, D.C., where new tax incentives aim to accelerate transformation. We close the episodes with two notable retail credit stories. Tune in now.Episode notes:• Economic Update: 911,000 Fewer Jobs (1:42)• Treasury Secretary Scott Bessent Op Ed (11:29)• Industrial Space Demand Falls (24:02)• Starwood $930M CMBS Loan (32:37)• Return to Office Mandates (34:59)• Washington D.C. Tax Abatements for Office-to-Resi Projects (40:45)• Retail Credit Stories (43:41)• Programming Notes (46:02)• Shoutouts (46:55)Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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