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

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.