Business

At least until yesterday's abysmal jobs report, there was - just like last December - a renewed sense of optimism that just because the Fed had gotten surprisingly hawkish in recent weeks (just like it did in November) starting with the FOMC minutes, passing through the speeches of numerous Fed presidents, and culminating with last Friday's Janet Yellen appearance, that the US economy was once again set for a major rebound, leading to a substantial repricing higher in rate hike odds which was also coupled with a boost in risk sentiment.

Last week we learned courtesy of a Reuters FOIA that there over the past 6 years there has been a coordinated attack to hack the Fed.

Citizens in Germany have reported widespread problems in withdrawing their cash from ATM machines across the country.  As reported by Germany’s Spiegel, customers were unable to withdraw cash from Deutsche Bank ATMs due to an apparent “technical glitch.” Zerohedge.com reports: Via Google Translate, A German bank spokeswoman declined to comment on the problem first. But the bank finally conceded a technical glitch in online banking. The deposits and withdrawals were partially displayed twice or not ready, the bank said.

Submitted by Ali Meyer via FreeBeacon.com,

Ohio’s InHealth Mutual co-op announced last week that it is going out of business, making it the 13th co-op to fail out of the 23 that were created under Obamacare.

The Ohio Department of Insurance asked to liquidate the company, saying that the company was in a “hazardous financial condition.” The co-op served nearly 22,000 consumers who now have 60 days to find another policy offered by another company on the federal exchange.

As the economy struggles and wage growth stagnates, everyone can rest easy knowing that the Federal Reserve bank presidents are getting paid quite nicely for all of their efforts.

While wages grew 2.6% (at best) In 2015, Fed presidents saw a 4% average salary increase. And before anyone says that the presidents took one for the team, taking a pay freeze from 2011-2013, it was made up for in 2014 when a 6.6% increase was awarded.