Joe Biden to deliver State of the Union address as decision on 2024 looms – live

Good evening, US politics blog readers, and thanks for joining us for our coverage of Joe Biden’s annual State of the Union address. At 9 pm eastern time, the president will take the stage before Congress, supreme court justices, cabinet secretaries and guests from across the country to make the case that things are looking up for the United States. But as the Guardian’s Lauren Gambino and Joan E Greve reported earlier today, many Americans hold gloomy impressions about the state of the nation – just look at the mere 21% who have a positive view of economic conditions. Looming over Biden’s speech is the big question the president has yet to answer: will he run for a second term in 2024? Don’t expect an answer tonight, but it’s possible he’ll give hints of which way he’s leaning.

But first, a rundown of what happened today so far:

• Federal Reserve boss Jerome Powell said the central bank may have to keep raising interest rates to fight inflation, a decision with effects that will ripple across the country and into Americans’ bank accounts.

• Dozens of George Santos’ constituents traveled to the Capitol from suburban New York City to demand he resign for lying his way into Congress.

• Republican House speaker Kevin McCarthy has reiterated his demand that Biden agree to cut spending in exchange for increasing the debt ceiling, a vital piece of business Congress must agree to do in the coming months.