Latest from Jesson Duller

• Mar 11, 2022

  Into the “social death” of the Russian oligarchy

  

  The Western sanctions on Russia’s wealthy elite have raised a variety of questions that range from who these people are to the effectiveness of the sanctions. We spoke to Dartmouth sociologist Brooke Harrington, who argues in a new piece for The Atlantic that the sanctions represent an existential threat for Russia’s elite — and, by proxy, the Kremlin itself. Consumer sentiment has dropped to lows not seen since the 70s and 80s, yet spending remains strong. What gives? The dating app Tinder has added a background check feature that allows users to see if a possible date has a criminal past.

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• Mar 11, 2022

  Worries emerge for Ukraine’s upcoming planting season

  

  From the BBC World Service: One of Ukraine’s biggest food producers says that Russian advances could prevent Ukrainian farmers from planting this year’s wheat and grain seeds. On the two-year anniversary of COVID-19 being declared a pandemic, China locks down a city of 9 million and a new study suggests that the global death toll could be three times higher than official records indicate.

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• Mar 10, 2022

  The federal government is officially getting into cryptocurrency

  

  Earlier this week, President Biden signed an executive order on cryptocurrencies, directing federal agencies to focus regulatory attention on six areas, protecting U.S. consumers and mitigating the risk of illicit activity. It also called for “urgency” around research and development efforts into a possible central bank digital currency (CBDC). For more, we spoke to Ari Redbord, head of legal and government affairs at TRM Labs, a cryptocurrency compliance firm. Congress has overhauled the U.S. Postal Service, but what kind of effects can actual postal workers expect? Diane Swonk wades through market activity with us.

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• Mar 10, 2022

  Rising gas costs are causing a shift for small business

  

  Filling up your car with gas has not only become more painful for the average customer, but for small business owners as well. Businesses that rely on vehicles, such as caterers or equipment suppliers, are considering some big changes to their operations because of the pain at the pump. The House approved $1.5 trillion funding bill to keep the government running through the end of its fiscal year in September, and the bill now heads to the Senate. Native tribes are keeping watch on that situation, as short-term funding can cause issues for a key health program.

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• Mar 10, 2022

  European Central Bank mulls interest rates

  

  From the BBC World Service: The European Central Bank will likely be factoring the economic impact of Russia’s invasion of Ukraine into its interest rate policy. Ukraine’s central bank governor has called for reparations to be taken from Russia’s frozen assets around the world. And we explore the likely economic impact of South Korea’s new president, Yoon Suk-yeol.

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• Mar 9, 2022

  Where does OPEC stand in this global game of oil?

  

  The oil-producing cartel known as OPEC has been somewhat absent in the oil discussion as countries have imposed bans and sanctions on Russia over the former’s invasion of Ukraine. It makes the global oil picture a little murkier, but here to clear up some of it is Fernando Valle, senior energy analyst at Bloomberg. In terms of oil supply, help for the U.S. could come from a geopolitically surprising source: Venezuela. The BBC reports on the global food impact of the Russia-Ukraine war, as both produce a massive percentage of the world’s wheat.

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• Mar 9, 2022

  Deal reached to fund federal government, help Ukraine

  

  Congressional leaders have struck a deal on legislation that will fund the federal government this year, along with providing billions in aid to Ukraine. Both houses of Congress are expected to vote on it this week. After President Biden announced a ban on Russian oil imports Tuesday, crude prices shot up, and Russia is having problems finding buyers. A law that would bestow independent contractor status on ride-hailing service drivers in Washington state in under consideration.

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• Mar 9, 2022

  Russia further insulates itself from the West

  

  From the BBC World Service: More Western firms, including McDonald’s, are pulling out of Russia as Moscow brings in new restrictions to try and counteract sanctions previously imposed. Two U.S. executives have been released from Venezuelan custody as the Biden administration looks to improve U.S. relations with the country. Plus, we hear about the potential impact of Russia’s invasion of Ukraine on global food supplies.

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• Mar 8, 2022

  U.S. set to ban Russian oil imports

  

  The U.S. will ban imports of Russian oil, according to the White House. Jeffery Cleveland discusses this news with us, and what it could mean for market activity going forward. From our BBC colleagues, we learn that the price of nickel, which is used in rechargeable batteries and stainless steel, spiked 250% in the past two days. That forced a shutdown of trading at the London Metal Exchange. We have a tale of entrepreneurship out of Maine, where a new avenue for Muslim fashion has emerged.

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• Mar 8, 2022

  High oil prices and recession have a history together

  

  Oil prices are at their highest point since 2008, with the national average of gas topping out at more than $4 per gallon. Historically, big spikes in oil prices have been the appetizer for a recession. We start in the 1970s for our look at the historic link between the two. President Biden will reportedly sign an executive order this week to direct federal agencies to figure out how to regulate cryptocurrencies. With Visa and MasterCard about to nullify operations in Russia, what are Russian banks and cardholders in and out of the country to do? 

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