Biden Excerpts on Putin, Inflation

President Joe Biden will make his first formal "State of the Union" address at 9 p.m., EST, in the U.S. Capitol.

The president is expected to outline his diplomatic efforts to address Russia's invasion of Ukraine and his plans to fight inflation by asking companies to reduce reliance on foreign supply chains by producing more goods in the United States.

Below are excerpts of Biden's anticipated remarks on these two key topics, as released by the White House:

VLADIMIR PUTIN

"Putin’s war was premeditated and unprovoked. 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."

INFLATION

"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. More infrastructure and innovation in America."