Daily Digest – January 28: Raising Rates is a Rising Challenge

Hard Choices on Easy Money Lie Ahead for Fed Chief (WSJ)

Janet Yellen’s second year as Federal Reserve Chair begins with the difficult task of creating consensus on raising interest rates, write Jon Hilsenrath and Pedro da Costa.

U.S. Companies Cut More Than 1m Jobs a Month. When Did Workers Stop Mattering? (The Guardian)

Suzanne McGee points at large-scale layoffs at big name companies that seek to raise their stock prices as a sign that the U.S. economy no longer sees workers as a worthwhile investment.

You’re Probably Richer Than You Think You Are: How Inequality Screws With Our Perspective (The Week)

Jeff Spross says that arguments over proposed changes to college savings accounts demonstrate just how easily some Americans lose sight of how high they sit within the economy.

How Bernie Sanders, In New Role, Could Make Wall Streeters Very, Very Unhappy (TAP)

Ari Rabin-Havt explains how Senator Sanders plans to use his new role as ranking member of the Senate Budget Committee to take on too-big-to-fail and other financial regulatory issues.

Shutting Down New York’s Subways Is Very Expensive (NYT)

If only 10 percent of New York’s workforce was unable to work because of the subway shutdown, Josh Barro estimates that the cost in lost labor would be around $160 million.

Al Franken’s Massive New Target: Why He’s Taking on Shady Credit Rating Agencies (Salon)

A major fine for Standard & Poor’s shows that Senator Franken’s proposal to base credit ratings agencies’ compensation on the accuracy of their ratings is still needed, writes David Dayen.

Answering President Obama’s Call, House Introduces Paid Sick Leave Bill for Workers (In These Times)

Kevin Solari reports on the introduction of the Federal Employees Paid Parental Leave Act, one of many ways to expand paid leave in order to attract top talent to government jobs.