Two Federal Reserve Members Say the Jobs Numbers Are Wrong. Revision Is Tomorrow.
The author argues that two Federal Reserve members (Powell and Waller) have publicly stated that monthly payroll job numbers are systematically overstated by ~60,000 jobs. The final benchmark revision, releasing February 11, 2026, will likely show near-zero job growth for 2025, causing significant market downside. The author expects IWM to decline on this negative labor data.