Economists expect the Bureau of Labor Statistics’ preliminary benchmark revision on Tuesday to show the March payrolls count was almost 800,000 less than currently estimated — or about 67,000 a month on average. While this is highly unlikely to cause the Fed to cut short term rates by 50bp next Wednesday (traders putting 97% odds on 25bp cut), it could cause the quarterly dot plot posted next week to show bigger future cuts than otherwise expected (140bp of easing by 2026 year-end).