Sputnik is live from Washington, DC where US President Joe Biden is set to announce measures to fight inflation and introduce lower costs for working families.
This comes after Biden last week described a plan proposed by Republican Senator Rick Scott as "extreme, as most MAGA things are", saying that it would raise taxes on 75 million American families with an annual income of less than $100,000.
The inflation rate in the US has been increasing since August 2021 and has been out of the normal 2-to-4% range for a full year, economists say.
*Follow Sputnik's live feed to find out more.