Spilt
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With prices on the rise in the U.S. economy, the Federal Reserve is expected to announce on Wednesday an increase in interest rates, essentially pouring a cold glass of water on the economy.
Why would the central bank do that? The answer lies in the inflation crisis of the 1970s, when a failure to react quickly enough still looms large in the memory.
Guest: Jeanna Smialek, a reporter covering the Federal Reserve and the economy for The New York Times.
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Background reading:
The Federal Reserve is facing the fastest inflation most Americans have ever seen. The response may require some aggressive — and painful — measures.What is inflation, why is it up, and whom does it hurt? Here’s what to know.Want more from The Daily? For one big idea on the news each week from our team, subscribe to our newsletter.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
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Demand for traveling nurses skyrocketed during the pandemic. In March 2020, there were over 12,000 job opportunities for traveling nurses, but by early December of that year, the number had grown to more than 30,000 open positions. Lauren Hilgers details the experiences of America’s traveling nurses and questions whether this “boom” will continue.
Myriad factors compelled thousands to abandon their permanent posts, among them the flexible nature of being a traveling nurse and its associated lifestyle (fewer hours, better pay). Traveling nurses can often make more in months than they would make as staff nurses in a year. Insufficient support to deal with waves of coronavirus sufferers at hospitals has driven many away.
But, as Hilgers writes, while hospitals have scrambled to hire traveling nurses, many have been chafing at the rising price tag. A number of states are exploring the option to cap travel-nursing pay, and the American Hospital Association is pushing for a congressional inquiry into the pricing practices of travel-nursing agencies. However, Hilgers concludes, the problem is unlikely to be solved until hospitals start considering how to make bedside jobs more desirable.
After two years, nurses in the United States have borne witness to hundreds of thousands of Covid deaths. Should their pay reflect this?
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