Roundup: Nursing homes ruling / Fed policy / Service sector jobs 

    Ida evacuation: There will be no ruling for more than a year on whether nursing homes owner Bob Dean will permanently lose his seven nursing home licenses—and the dispute over Dean’s nursing homes ownership will likely drag on for much longer, Louisiana Illuminator reports. The Louisiana Department of Health has shut down Dean’s nursing homes following Dean’s decision to evacuate almost 850 nursing home residents to a warehouse in Tangipahoa Parish ahead of Hurricane Ida. Read the full story. 

    Dialing back: The Federal Reserve will begin dialing back the extraordinary economic aid it has provided since the pandemic erupted last year, a response to high inflation that now looks likely to persist longer than it did just a few months ago. In a statement Wednesday after its latest policy meeting, the Fed said it will start reducing its $120 billion in monthly bond purchases in the coming weeks, by $15 billion a month, though it reserved the right to change that pace. Read the full story. 

    Growth: The rate of expansion in the U.S. services sector, where most Americans work, hit a record high in October as demand remained strong even as supply chain problems persisted. The Institute for Supply Management reported today that its monthly survey of service industries—which includes restaurants and bars, trucking companies, hotels and many other businesses—jumped to a reading of 66.7 from September’s reading of 61.9. Read more.