The Dow dropped more than 700 points in earlier trading amid reports of more intense fighting in Ukraine. We’ll bring you the latest news and discuss how this all plays out for markets. Plus, crude oil has pulled back after hitting a 14-year high. Can U.S. drillers ramp up production fast enough to help keep prices down? We’ll explore all of it, especially as Bipartisan leaders have just reached a deal on a new bill that could ban Russian energy imports.

Kelly sits down with Julia Coronado of Macropolicy Perspectives to discuss upping her rate hike forecast, how she expects the Fed to respond to both inflation and the Ukraine crisis right now, and the difference between fiscal and monetary stimulus. Kelly and Julia also dig into the pros and cons of being an economist at different types of institutions--given her experiences at a large bank, a hedge fund, and now as an independent consultant. And be sure to stick around to hear about the current academic research that has Julia the most excited.