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Jay Siebold

Technical Director, Marketplace Morning Report

Latest from Jay Siebold

  • Mar 4, 2022

    Ukraine finance minister reacts to Russia’s nuclear-plant attack

    Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), points on a map of the Ukrainian Zaporizhzhia nuclear power plant as he informs the press about the situation of nuclear powerplants in Ukraine during a special press conference at the IAEA headquarters in Vienna, Austria on March 4, 2022. - Grossi offered to travel to Chernobyl in order to negotiate with Ukraine and Russia to try to ensure the security of Ukraine's nuclear sites. (Photo by JOE KLAMAR / AFP) (Photo by JOE KLAMAR/AFP via Getty Images)

    From the BBC World Service: As Russia seizes Ukraine’s largest nuclear power plant, we get reaction from Ukrainian Finance Minister Serhiy Marchenko. Plus, we explore the likely impact of Western sanctions on the Russian economy. And we hear from Berlin, where families are making space for Ukrainian refugees arriving in Germany.

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  • Mar 4, 2022

    A look at Europe’s reliance on Russian gas – and what could happen if Russia cuts it off

    A receiving station in Germany for Nord Stream 2, a natural gas line that would link Germany with Russia.
    John MacDougall/ AFP Getty Images

    Russia’s control over natural gas in Europe has been one of the subplots to follow leading up to its invasion into Ukraine. Europe has long relied on Russian gas to help support its wind and solar power efforts, and it keeps many a home warm in the winter, especially Germany. For more on this, we spoke with Vijay Vaitheeswaran, global energy and climate innovation editor at The Economist. The Labor Department issues its February jobs report, and its expected to show more growth as the pandemic is showing signs of subsiding.

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  • Mar 3, 2022

    Oil prices continues their rise as U.S. sets sights on Russian energy

    An aerial view of a crude oil storage facility is seen on May 5, 2020 in Cushing, Oklahoma. Rising demand for crude oil along with rising gas prices has led to an "energy shock" as the world attempts to transition to clean energy.
    Photo by JOHANNES EISELE/AFP via Getty Images

    Oil prices continue to climb this morning. Global benchmark Brent crude is at $116 a barrel, which is a near 20% increase just this week. The price may go higher as the United States imposes the first export controls connected to Russia’s energy sector. We discuss rate hikes coming in March and preview upcoming jobs numbers with Diane Swonk. Philadelphia Fed president Patrick Harker talks about the Russia-Ukraine conflict and its potential impact on what the Fed could do with interest rates.

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  • Mar 3, 2022

    Philadelphia Fed: Some employers want a particular set of skills instead of a college degree

    Help wanted sign in front of a store front.

    Employers lowered the educational requirements for certain jobs during the pandemic, according to a new report from the Federal Reserve Bank of Philadelphia — potentially signaling new opportunities for workers without a bachelor’s degree. We spoke to Patrick Harker, the Philadelphia Fed’s president, about what the research can tell us about the economy. He also talked about whether Russia’s invasion of Ukraine and the resulting economic fallout could alter the Fed’s approach about raising interest rates in March. The war in Ukraine has led to high wheat prices, which impact certain parts of the world more than others. Fed chair Jerome Powell testifies today.

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  • Mar 3, 2022

    Commodity prices surge as the West further isolates Russia

    A harvester works in a wheat field in the Russian village of Nur-Shari.
    Oleg Nikishin/Getty Images

    From the BBC World Service: A number of commodity prices have seen sharp price increases over the past week, as has the impact of Western sanctions and reluctance to do business with Russia. As the conflict continues, what will it take to cool price swings? Plus: As Ukrainian refugees continue to flee to neighboring EU nations, interior ministers meet to discuss a plan to grant temporary protection.

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  • Mar 2, 2022

    Examining private equity’s growing role in the rental market

    As younger, higher earners stay in the rental market longer, it can limit their chances to build wealth and price out lower-income people.
    Justin Sullivan via Getty Images

    A new report from ProPublica dives into the role of private equity in the multifamily rental market. It reveals the growing proportion of private equity-owned apartment buildings as well as how tenants are being affected by changes in ownership. We spoke with ProPublica’s Heather Vogell, the reporter behind the investigation. Susan Schmidt offers insight into today’s market activity.

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  • Mar 2, 2022

    Biden targets Russia, inflation in State of the Union address

    President Joe Biden delivers his 2022 state of the union address to Congress. This year, president is likely to talk progress on inflation and other economic matters.
    Sarahbeth Maney-Pool/Getty Images

    President Biden used Tuesday night’s State of the Union address to urge global unity against Russia’s invasion of Ukraine, but he also pushed forth pieces of his domestic agenda, specifically ways to control inflation. He called fighting inflation his top priority. We know how the invasion of Ukraine is disrupting the crude oil industry, but it’s also causing chaos in the industry of edible oils as well. Ukraine is leaning on its familiarity with cryptocurrency to gather funding for aid.

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  • Mar 2, 2022

    Oil and gas prices surge as fighting in Ukraine enters its seventh day

    MCKITTRICK, CALIFORNIA - NOVEMBER 03: Pumpjacks operate in the Belridge oil field on November 03, 2021 near McKittrick, California. The Biden administration pledged to cut methane emissions from oil and gas production yesterday. In California, 35,000 oil and gas wells sit idle, many of which are unplugged and could leak methane gas. Scientists estimate that one-third of human-induced global warming is caused by methane. (Photo by Mario Tama/Getty Images)

    From the BBC World Service: Brent crude oil rose above $112 a barrel for the first time since 2014, and European natural gas prices hit a fresh record as Russia’s invasion of Ukraine continues. Plus, a look at whether cryptocurrency exchanges can be held legally responsible if users use digital currencies to flout sanctions against Russia. 

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  • Mar 1, 2022

    Could Russia’s banking path around SWIFT go through China?

    (Photo by Feng Li/Getty Images)

    That’s the concern of the United States and its European allies after cutting off Russia from the SWIFT banking system. China features an interbank system known as CIPS that could, in theory, provide Russia the avenues necessary to keep its financial wheels moving. Helping us explain CIPS is Marketplace’s China correspondent Jennifer Pak. David Kelly offers up some insight into today’s market activity as oil surpasses $100 a barrel. We also look into the pathways that humanitarian aid for Ukraine can take.

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  • Mar 1, 2022

    Russia, Europe trade air bans. What could that mean for the global supply chain?

    A C-17 Globemaster cargo plane lands at Rzeszow-Jasionka Airport, south eastern Poland, on February 16, 2022. - Dozens of US paratroopers landed at Rzeszow Airport in Poland -- part of a deployment of several thousand sent to bolster NATO's eastern flank in response to tensions with Russia. (Photo by Wojtek RADWANSKI / AFP) (Photo by WOJTEK RADWANSKI/AFP via Getty Images)

    Also today: Royal Dutch Shell has become the latest energy company to announce that it’s divesting from Russian oil and gas, a move some experts say signals a “sea change” in how energy companies in the West deal with Russia. We check in on the strength of American manufacturing as demand keeps growing.

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