Biden to call Putin ‘wrong’ and tout his inflation-fighting plans in State of the Union

President Joe Biden on Tuesday night will slam Russian President Vladimir Putin over his invasion of Ukraine and lay out plans to fight inflation during his State of the Union address, according to excerpts released by the White House. “Putin’s war was premeditated and unprovoked,” Biden will say, according to his prepared remarks. “He rejected efforts at diplomacy. He thought the West and NATO wouldn’t respond. And, he thought he could divide us here at home. Putin was wrong. We were ready,” Biden will say. On inflation, the president will say: “We have a choice. One way to fight inflation is to drive down wages and make Americans poorer. I have a better plan to fight inflation. Lower your costs, not your wages. Make more cars and semiconductors in America,” among other steps. Biden’s speech is scheduled to begin at 9 p.m. Eastern Tuesday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.