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1. They never just focus on themselves.

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As inflation persists at multi-decade highs, the pressure is on the Federal Reserve, above all other economic policymaking institutions, to halt rising prices: The central bank announced another interest rate increase Wednesday in its ongoing efforts to combat inflation.

Since the climax of the last major inflation crisis in the 1970s, independent central bank chiefs willing to administer proverbial harsh medicine — raising interest rates so high they potentially cause a recession — have reigned like near-deities over our economic lives.

In this, Fed Chair Jerome Powell stands in the shadow of his most legendary predecessor, the late Paul Volcker. Inflation hawks want Powell to go “full Volcker”: follow the elder banker’s example from 1979 and raise interest rates high enough to choke off demand, even at the cost of a devastating recession.

The Volcker shock looms large in the mythology of central banking: the moment when neoliberal Zeus slew the old economic Titans standing in the way of progress. Volcker’s rate hikes sent the US economy into the worst recession since the Great Depression during the early 1980s, but it eventually recovered into what’s called the “Great Moderation”: a more than three-decade stretch when inflation seemed banished even as economic growth returned.

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Former Federal Reserve Chairman Paul Volcker’s rate hikes sent the US economy into the worst recession since the Great Depression during the early 1980s — but it eventually recovered.Bita Honarvar/Vox; Diana Walker/Getty Images; iStockphoto

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Mastodon describes itself as a “free open-source decentralized social media platform.”Credit…Lisi Niesner/Reuters

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Recently, I had a reunion with some old university friends. After dinner and a bottle (or two) of wine, we slumped down together in front of the television. A few minutes later our host slid open his laptop and started moving parts around on a PowerPoint presentation. “Just getting ahead of something for Monday,” he shrugged.

The next morning we went for a walk. In the middle of taking in the fresh air and catching up about work and kids and life in general, a friend who runs a small business dropped behind a little to look at his phone. “Emails,” he sighed. He was on holiday, but not really. “It’s not like I’m abroad,” he reasoned.

It used to be that work was an ironed shirt and a train journey away. But during the pandemic, WFH changed all that for many people, and it seems to have stuck. Back in 2020, my partner and I would convene from different ends of our flat at the end of the workday with a slightly crazed look in our eyes and compare notes on how we’d barely eaten or taken a break. No one was demanding or expecting this behavior, – on the contrary, our bosses would have been appalled – but the boundaries between work and life had suddenly become porous, and we didn’t know how to deal with it. Three years later, it’s not clear anyone has really figured it out.

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‘The idea of setting boundaries has been fodder for selfhelp books since around the mid-80s, but in 2022 the idea is making a roaring comeback.’ Photograph: Rudzhan Nagiev/Getty Images

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Pure water is an almost perfect insulator.

Yes, water found in nature conducts electricity – but that’s because of the impurities therein, which dissolve into free ions that allow an electric current to flow. Pure water only becomes “metallic” – electronically conductive – at extremely high pressures, beyond our current abilities to produce in a lab.

But, as researchers demonstrated for the first time back in 2021, it’s not only high pressures that can induce this metallicity in pure water.

By bringing pure water into contact with an electron-sharing alkali metal – in this case, an alloy of sodium and potassium – free-moving charged particles can be added, turning water metallic.

The resulting conductivity only lasts a few seconds, but it’s a significant step towards being able to understand this phase of water by studying it directly.

“You can see the phase transition to metallic water with the naked eye!” physicist Robert Seidel from Helmholtz-Zentrum Berlin für Materialien und Energie in Germany explained last year when the paper was published.

“The silvery sodium-potassium droplet covers itself with a golden glow, which is very impressive.”

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