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Biden says he will make 2024 re-election decision 'early next year'

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President Biden on Wednesday said he estimates his decision on whether he will run for re-election in 2024 will be made by "early next year."

Biden told reporters during a post-election press conference that his "intention is" to run again for re-election regardless of the final results of the midterm elections. The president said he is a "great respecter of fate" and emphasized the importance of his family, specifically First Lady Jill Biden, in his decision.

"I think everybody wants me to run, but we’re going to have discussions about it," he said. "I hope Jill and I get a little time to sneak away for a week between Thanksgiving and Christmas, and my guess is it will be early next year when we make that judgment."

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The White House in recent months has emphasized Biden’s "intentions" to run for re-election, but has not committed either way. Biden, who turns 80 this month, is the oldest president in history.

The president's remarks come just days after former President Donald Trump teased a major announcement, which could be his decision on a 2024 presidential run.

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"Two years ago we were a great nation, and we will be a great nation again. Not to detract from tomorrow's very important even critical election… I'm going to be making a very big announcement on Tuesday Nov. 15 at Mar-a-Lago in Palm Beach," Trump said of what will likely be a third presidential campaign.

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President Joe Biden and First Lady Dr. Jill Biden. Jaob King/Pool Photo via AP

Biden’s approval ratings hit historical lows throughout his first two years in office, but his party exceeded expectations in the midterm elections. Republicans are expected to win a majority in the House of Representatives but by a smaller margin than anticipated. The fate of the Senate depends on three remaining states: Nevada, Arizona, and Georgia.

The Fox News Decision Desk had not yet determined the balance of power in Congress at the time of Biden's press conference Wednesday afternoon.

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Jill Biden and Joe Biden Yasin Ozturk/Anadolu Agency via Getty Images

Biden, in his speech Wednesday, declared the midterms a "good day for democracy" and said his party "had a strong night."

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Biden says he will make 2024 re-election decision 'early next year'

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