Joe Biden's 11-word statement in full as he exits 2024 US election

US President Joe Biden has stepped down as the Democrat Presidential Candidate just four months before the 2024 election is held in November. In a statement issued tonight he said: "It is in the best interest of the country."

Biden announced his decision after mounting pressure from fellow Democrats to step down amid fears that, by remaining in the race, he would hand a landslide victory to Republican presidential candidate Donald Trump.

Earlier this month, Mr Biden had called into MSNBC's Morning Joe programme to defiantly dismiss calls for him to step aside, as he told hosts Mika Brzezinski and Joe Scarborough: "The bottom line here is that we’re not going anywhere. I am not going anywhere."

But calls for Biden to let another Democrat take his place against Mr Trump only grew stronger in recent weeks, and reached fever pitch on Thursday, when a report by the Washington Post claimed friend of the president and former US leader Barack Obama had told allies his former VP should seriously consider whether to remain in the race.

The report said Mr Obama believes Mr Biden's path to re-election has greatly diminished, but it should be up to the incumbent president to decide to quit.

In a letter posted to his social media account, Joe Biden said it had been the "greatest honour of his life to serve as president" and expressed his "heartfelt appreciation to the American people" for their faith and trust.

President Biden thanked his vice president Kamala Harris, saying she was an "extraordinary partner."

President Biden thanked his vice president Kamala Harris, saying she was an "extraordinary partner."

He said in his statement that he will address the nation on the matter next week.

His full letter on social media read: "My fellow Americans. Over the past three and a half years, we have made great progress as a Nation.

"Today, America has the strongest economy in the world. We've made historic investments in rebuilding our Nation, in lowering prescription drug costs for seniors, and in expanding affordable health care to a record number of Americans. We've provided critically needed care to a million veterans exposed to toxic substances. Passed the first gun safety law in 30 years. Appointed the first African American woman to the Supreme Court. And passed the most significant climate change legislation in the hisory of the world. America has never been better positioned to lead than we are today.

"I know none of this could have been done without you, the American people. Together, we overcame a once in a century pandemic and the worst economic crisis since the Great Depression. We've protected and preserved our Democracy. And we've revitalized and strengthened our alliances around the world.

"It has been the greatest honour of my life to serve as your President. 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.

"I will speak to the Nation later this week in more detail about my decision.

"For now, let me express my deepest gratitude to all those who have worked so hard to see me reelected. I want to thank Vice President Kamala Harris for being an extraordinary partner in all this work. And let me express my heartfelt appreciation to the American people for the faith and trust you have put in me.

"I believe today what I always have: that there is nothing America can't do-when we do it together. We just have to remember we are the United States of America."

Other prominent voices in the Democrat camp had already let the scepticism about Mr Biden's chances to win against Mr Trump be known.

Earlier this month, Hollywood star George Clooney penned a damning op-ed for the New York Times in which he claimed the Biden he met at a fundraising event three weeks prior was not the same man of 2010.

Urging the US president to leave the race, he added: "He wasn’t even the Joe Biden of 2020."

Hours before the publication of this plea, senior Democrat Nancy Pelosi had swerved questions about whether Mr Biden should remain in the presidential race.

Ms Pelosi reportedly spoke privately to Mr Biden about her doubts regarding his chances to win, telling him polls show he can't beat Mr Trump, according to CNN.

Several elected Democrats had, over the past weeks, publicly called on Mr Biden to step down from the race, including California congressman Adam Schiff.