The President is giving a speech at the New Economic School in Moscow at 3:15 am.

Watch it live on FNC!

Background on President Obama's Commencement Speech at the New Economic School
Gostinny Dvor -- Moscow

The New Economic School (NES) is an independent graduate school of economics located in Moscow. It is a bastion of "liberal" economic thinking in today's Russia. Its stated mission is "to benefit Russia's private and public sectors through excellence in economics education and research." The school offers a two-year Masters Program in Economics as well as a newly-opened Masters in Finance program, which is supported by Morgan Stanley. The school was originally established in 1992 as a partnership between leading economists from the Russian Academy of Sciences and a group of Western academics to encourage the study of modern economics during Russia's transition to a market economy. Through its think tank, the Center for Economic and Financial Research, the school fosters research in economics and applied economic analysis to study transition issues in the Russian economy. The Center also provides Russian and international businesses with research, executive education, and consulting.

When it first opened, the majority of courses were taught by visiting Western professors. Gradually, the school has achieved the goal of building a sustainable modern economics department by reversing the ‘brain drain' and bringing back Russian economists with PhD's from Western universities. The majority of its 700 alumni have remained in Russia, most of whom work in the private sector. One prominent alumnus is current Assistant to the Russian President Arkady Dvorkovich, who along with four other NES alumni, was named a Young Global Leader by the World Economic Forum in Davos.
The NES Commencement Ceremony will be held held at Moscow's Gostinyi Dvor, a historic Russian term for an indoor market. The current Neoclassical building dates from 1789 but has been substantially modified, including the installation of a modern glass roof in 1995, reputedly the largest in the world, when the building was converted into a fashionable exhibition hall. At one end of the hall is an amphitheater where the President will be speaking.