According to breaking information, Joe Biden will not be a US presidential candidate again.

President Joe Biden has announced that he will not seek re-election.

The announcement was made in a letter posted on the official account on X, formerly known as Twitter. In a later post, Biden endorsed Vice President Kamala Harris as his replacement.

“Serving as your President has been the greatest honor of my life,” Biden wrote, adding: “While I intend to seek re-election, I believe it is in the best interest of my party and the country for me to step down from office and focus solely on fulfilling my duties as President for the remainder of my term.”

Biden also said he will address the nation later this week to provide more details. In a follow-up post, Biden praised Harris and called on Democrats to unite behind her.

“My first decision as the party’s nominee in 2020 was to choose Kamala Harris as my Vice President,” Biden wrote, “And it has been the best decision I have ever made. Today I offer my full support and endorsement for Kamala to be our party’s nominee this year.” I want.”

Biden’s decision comes after weeks of speculation about the 81-year-old president’s stamina, mental abilities and ability to effectively campaign against former President Donald Trump and lead the country for another four years. The announcement is expected to raise questions about his ability to fulfill presidential duties for the remainder of his term.

This marks the first time in decades that an incumbent US president has given up re-election and parallels President Lyndon Johnson’s decision not to seek a second term in 1968. But Biden’s announcement came much later in the campaign than Johnson’s.

*Not investment advice