Biden decision to leave the race – coming three weeks after his dismal performance in a debate against former President Donald Trump – has thrust his vice president into the driver’s seat to become the Democratic standard bearer just three weeks before the party’s convention in Chicago.
Biden in a written statement said, "I believe it is in the best interest of my party and the country for me to stand down and focus solely on fulfilling my duties as President for the remainder of my term."
The 81-year-old president had faced calls from other members of the Democratic Party to not run again due to concerns about his age.
In a separate statement, Biden said he endorse Vice President Kamala Harris, an Oakland native, former San Francisco district attorney, California attorney general and U.S. senator, to run as the Democratic candidate.
Biden wrote: "My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it's been the best decision I've made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats - it's time to come together and beat Trump. Let's do this."
Biden said he will speak to the nation later this week in more detail about his decision to not run for reelection.
The announcement is the latest development in a chaotic 2024 presidential race, which was rocked last week by an attempted assassination of Trump in Butler, Pennsylvania.