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By Kristin Myers, Editor-in-Chief

What's Happening Today

Good morning! It's Kristin with your daily morning digest.

Stocks are on the rise and oil prices are easing after President Joe Biden announced a ban on imports of Russian oil. Lower oil prices will be a welcome relief to U.S. drivers that currently see average gas prices hitting a new record of more than $4.25 a gallon at the pump.

This morning, the White House also announced in an executive order that it will launch a comprehensive plan to review and regulate digital assets like cryptocurrencies. Although the order encourages greater oversight of cryptocurrencies (like Bitcoin) and calls for banking and finance agencies within the government to develop frameworks to mitigate risks for consumers, it also called the rise of digital assets an "opportunity" for the U.S. to show leadership and support innovation in digital assets. The price of Bitcoin surged over 10% on the news, while the price of Ether rose over 8%. Other major cryptocurrencies traded higher, as well.

And for the millions of student loan borrowers, another extension of the federal student loan payment pause might be coming. Reports say the Education Department has directed student loan servicers not to send out notices about payments restarting in May. White House Chief of Staff Ron Klain said the President might extend the pause, increasing the likelihood that borrowers won't have to make payments on their student loans soon.

Though calls to cancel student loans have gotten louder, The Balance found in a new survey of U.S. adults that less than half of those surveyed support the measure.

- Kristin

Editors' Picks

The Price of Punishing Putin: More Pain at the Pump (The Balance)

Here Are the Best Apps To Know Where To Score the Cheapest Gas (The Balance)

'Great Resignation' Simmers Down Slightly (The Balance)

Education Department Sends Another Sign That Student Loan Payments May Not Restart in May (CNBC)

Gundlach Warns US Inflation May Hit 10%, Forcing Fed's Hand (Bloomberg)

Average Credit Card Interest Rate Is 20.48% (The Balance)

Can I Contribute to a Roth IRA if I'm Married Filing Separately? (The Balance)

Off the Charts

Yesterday, President Joe Biden announced a ban on imports of all Russian oil, natural gas, and energy to the U.S., a move he acknowledged was likely to lead to even higher gasoline prices.

Increases in the national average price for a gallon of regular gas, a widely predicted result of the conflict, have already been substantial. The price soared to a record $4.25 today.

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Number of the Day

43.4 Million - That's how many borrowers are waiting to hear if the president will extend the reprieve on student loan payments again, perhaps granting forgiveness too.

Season 2 of the "Money Confidential" podcast is back with "Taxes in Ten," a six-episode mini-season covering your top tax questions. Host and nationally recognized money expert, Stefanie O'Connell Rodriguez, is teaming up with The Balance's very own Editor-in-Chief, Kristin Myers, as well as Caleb Silver, Editor-in-Chief of Investopedia, to talk about everything from doing your own taxes to the specific tax considerations of different life stages. You can listen now to "Taxes in Ten."