President Joe Biden is set to address the nation on Wednesday night to discuss his decision to leave the presidential race.
He is scheduled to give his remarks at 8 p.m. EST, during which he is expected to discuss in detail what his priorities are for his remaining months in office, the Washington Post reported.
Biden will likely devote much of his speech to outlining his goals for his final six months in office.
Biden is also expected to discuss securing a hostage deal in the Middle East to release those being held by Hamas following the Oct. 7 attacks in Israel. The president is scheduled to meet on Thursday with Israeli Prime Minister Benjamin Netanyahu at the White House.
"I'm still going to be fully, fully engaged. I've got six months left in my presidency," he said over the phone on Monday to campaign headquarters. "I'm determined to get as much done as I possibly can, both foreign policy and domestic policy — keep lowering costs for families, continue to speak out on guns, to child care, elder care, prescription drugs and climate."
Biden announced Sunday his intention not to pursue a second term. He then endorsed Vice President Kamala Harris for the 2024 presidential election.
“It has been the greatest honor of my life to serve as your President,” Biden wrote in the letter, which was distributed while he recovered from COVID-19 at his residence in Rehoboth, Delaware.
“And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term,” he wrote. “I will speak to the Nation later this week in more detail about my decision.”
Harris, the presumptive Democratic presidential nominee, addressed a gathering of the Zeta Phi Beta sorority in Indianapolis. Former President Donald Trump is expected to appears at a rally in Charlotte, North Carolina.
Price Action: Exchange-traded funds that cover defense stocks have the potential to move on Thursday on any comments from Biden on Middle East peace talks. iShares U.S. Aerospace & Defense ETF (ITA) slipped 1.22% by Wednesday’s mid-day trading, while Invesco Aerospace & Defense ETF PPA dropped 1.29% and SPDR S&P Aerospace & Defense ETF XAR declined 0.84%.
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