I am honored to have this role [of the moderator], but this evening belongs to the candidates and, just as important, to the American people.

I'll co-host TODAY from Los Angeles Saturday morning and then make my way up to Merced for that evening's graduation ceremony. I'm still touching up my remarks, but my challenge to the Class of 2010 will be to break through the deafening and too often negative echo chamber of the digital era and become critical and independent thinkers.

You have to go where the story is to report on it. As a journalist, you're essentially running to things that other people are running away from.

I remember when I interviewed at MSNBC, one of the first things they said to me was, 'In your tapes, you had a mustache, right?' I said, 'Yeah, I recently took it off.' I said, 'If you hire me, you get to decide if you want it or not.' They said, 'No, no, we're fine with it now.'

The share of Americans who say race relations are bad in this country is the highest it's been in decades, much of it amplified by shootings of African-Americans by police, as we've seen recently in Charlotte and Tulsa. Race has been a big issue in 2016 campaign.

On more than one occasion, the camera has cut to me after a break as I'm still trying to swallow the last bite of cookie. Those of you who have thought to yourselves, 'That guy talks like he has marbles in his mouth,' should know that they are not marbles, but oatmeal cookies.

Stop-and-frisk was ruled unconstitutional in New York, because it largely singled out black and Hispanic young men.

There are American citizens who have been inspired to commit acts of terror on American soil, the latest incident, of course, the bombings we just saw in New York and New Jersey, the knife attack at a mall in Minnesota, in the last year, deadly attacks in San Bernardino and Orlando.

There are two economic realities in America today. There's been a record six straight years of job growth, and new census numbers show incomes have increased at a record rate after years of stagnation. However, income inequality remains significant, and nearly half of Americans are living paycheck to paycheck.

You never know what doors are going to open up and why they are going to open up. You've got to be ready to walk through them.

I don't expect us to cover all the issues of this campaign [2016] tonight, but I remind everyone, there are two more presidential debates scheduled. We are going to focus on many of the issues that voters tell us are most important, and we're going to press for specifics.

One of the most important skills at [reporting] is not so much what comes out of your mouth but what you hear. To listen. When you interview people, it's very important to understand the nuances of what they're saying and to understand when they have actually made news-when they've told you something that they haven't told anybody else.

There are two economic realities in America in 2016. There's been a record six straight years of job growth, and new census numbers show incomes have increased at a record rate after years of stagnation. However, income inequality remains significant, and nearly half of Americans are living paycheck to paycheck.

The biggest thing I worry about is the unsubstantiated story. You have to tell the people what you know -- and acknowledge what you don't know.

Race has been a big issue in this [presidency] campaign [2016].

As Americans we rightfully place tremendous value on having a free and independent press. Our role as journalists is to give voice to the voiceless, and hold our leaders and institutions accountable. But the circle is only completed when that information is consumed by a free thinking and engaged audience.

Candidates [Hillary Clinton and Donald trump], we look forward to hearing you articulate your policies and your positions, as well as your visions and your values.