"The Best Way Forward Is To Pass The Torch To A New Generation": Joe Biden

US President Joe Biden addressed the nation on Wednesday for the first time since ending his presidential campaign. During his 11-minute speech, the 81-year-old noted the importance of “passing the torch” to a new generation. Joe Biden also hailed Kamala Harris, who is set to be the new Democratic presidential nominee.

"I believe my record as president, my leadership in the world, my vision for America’s future, all merited a second term. But nothing, nothing can come in the way of saving our democracy. That includes personal ambition. So I’ve decided the best way forward is to pass the torch to a new generation. It’s the best way to unite our nation," said Biden in a rare televised address to the nation from behind the Resolute Desk in the Oval Office. Notably, this speech was the fourth Oval Office address of Biden’s presidency. The veteran Democrat also praised the American people and added that the future of the country's democracy lies in their hands.

"I would like to thank our great vice president, Kamala Harris. She is experienced, she is tough, she is capable. She’s been an incredible partner to me and a leader for our country," added Joe Biden. Earlier on Sunday, Biden endorsed Kamala Harris for the Democratic Party's presidential nomination. Meanwhile, Joe Biden also announced that he will focus on lowering the costs and growing the economy during the next six months.