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Listen up, degenerates, because this thing is going down *tomorrow*, and if the play suits your fancy, you’ll likely choose to grab a seat today. Yes, today.
**Two voting FOMC members** have said the payroll jobs data is overstated.
And no, this isn’t some Econ 101 dropout yelling “the numbers are fake” from his parents’ basement. This is coming straight from the Federal Reserve.
I’ve got the receipts.
Oh, and one of those two voters?
**Jerome Powell**. The Fed Chair himself.
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On **December 10, 2025**, during his [FOMC press conference](https://www.youtube.com/watch?v=Ko-_yb2UkDk) (The Fed’s official YT channel), Powell said:
>Gradual cooling in the labor market has continued. Unemployment is now up three-tenths from June through September. Payroll jobs averaging 40,000 per month since April. We think there’s an **overstatement in these numbers by about 60,000**, so that would be negative 20,000 per month.
The payroll jobs data is overstated.
By a lot. Roughly **60,000 jobs per month**.
The BLS says we’re adding +40k jobs per month.
While the Fed is: “Cool story, bro. But you’re actually down –20k.”
Same energy as what you tell women you make, versus what actually shows up in your bank account.
Now, later in the same press conference, [Powell added](https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20251210.pdf) (The Fed’s own transcript):
>It’s very difficult to estimate job growth in real time. They don’t count everybody. They have a survey. And there’s been something of a **systematic overcount**. And so we expect it and they correct it twice a year.
>So the last time they corrected it, we thought the correction would be 800,000 or 900,000. I won’t get the numbers exactly right. And that was exactly what happened.
>So we think that that has persisted. And so there was an overcount in the payroll job numbers, we think, **continuing**.
>And it will be corrected. I don’t have the exact month in my head right now.
Powell is referring to the U.S. Bureau of Labor Statistics (BLS) and its two annual corrections:
* The **preliminary benchmark revision**.
* And the **final benchmark revision**.
The [preliminary benchmark revision](https://www.bls.gov/news.release/prebmk.nr0.htm) was released on **September 9, 2025**.
Powell said the Fed expected a correction of “800,000 or 900,000.”
The actual number? **-911,000**.
What the Fed anticipated is *exactly* what happened.
More importantly, Powell said this discrepancy has **persisted**. The overcount didn’t stop. It didn’t get fixed. Which means the **final benchmark revision will most likely confirm another significant downward correction**.
Powell didn’t have the exact month in his head.
I do.
The final benchmark revision is released alongside the **January 2026 Employment Situation report**.
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# It’s Not Just Powell
Now fast-forward.
On **January 30, 2026**, Fed Governor Christopher J. Waller [released a statement](https://www.federalreserve.gov/newsevents/speech/waller20260130a.htm):
>Labor market remains weak. Despite ticking down in its most recent reading, the unemployment rate has risen since the middle of last year.
>**Payroll gains in 2025 were very weak**. Compared to the prior ten-year average of about 1.9 million jobs created per year, payrolls increased just under 600,000 for 2025. And, **last year’s data will be revised downward soon** to likely show that there was virtually no growth in payroll employment in 2025. Zero. Zip. Nada.
Yes. Those are his words, quoted from his statement, on the official Federal Reserve page.
Just like Powell, Waller expects payroll data to be revised downward—to the point where 2025 shows virtually no employment growth *(writing properly and using an em dash? Cue in the "I'm an AI" comments, for sure!)*
And remember: Waller was on the shortlist to become the next Fed Chair.
Waller was also one of the two dissents in the last FOMC.
Yet, he didn’t mince words:
>Let this sink in for a moment—**zero job growth** versus an average of almost 2 million for the 10 years prior to 2025. **This does not remotely look like a healthy labor market**.
So now we have *two* voting FOMC members—one of them aligned with the current administration—expecting a major downward payroll revision.
And we know what revision they’re talking about.
It’s the final benchmark revision, released with the January 2026 Employment Situation report.
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# Here’s When the Rewrite Drops
Originally, the report was scheduled for Friday, February 6, 2026. But due to the government shutdown, it was [postponed](https://www.bls.gov/schedule/2026/02_sched.htm) to **Wednesday, February 11, 2026 at 08:30 ET**.
That’s the setup. That’s it.
Absent a major bullish offset, a large final downward payroll revision, especially one approaching what Governor Waller is warning about, **is likely to make the market red**.
Now, I’m not saying this will be the start of a crash, bubbles popping, or bear market. I’m not saying that. Heck, I’m not even expecting an actual correction.
But I do believe that tomorrow, we’ll see red because of this.
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Ok, so Puts the word.
On who?
I’m sniping stocks/ETFs that are already doing well. Sure, you could try to short software names, but they’re already in the toilet.
These are my positions, ranked by most to least exposure.
I’ll be honest, though. 80% of my play is on IWM.
IWM Feb 11 262 Put
IWM Feb 13 259 Put
IWM Feb 13 256 Put
Then, I’m testing some individual names, but these are just a couple hundred in cheap lottos since they’re like 0.10 - 0.20 per contract.
TGT Feb 13 108 Put
SBUX Feb 13 94 Put
PNC Feb 13 227.5 Put
USB Feb 13 57 Put
XLI Feb 13 167 Put
I’m including the individual names in case you are hunting them, want to look cute, or you have a micro account and want to find cheap options.
But for most people, you can focus on IWM.
Have a nice day.