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 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."

PRESIDENT BIDEN ADDRESSES THE NATION AS MIDTERM RESULTS CONTINUE POURING IN

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. 

"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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The President of the United States Joe Biden and First Lady

President 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.

A GUIDE TO THE FOX NEWS 2022 ELECTIONS EXPERIENCE

First Lady Jill Biden speaks as President Biden, right, hosting a Cinco de Mayo reception in the Rose Garden of the White House in Washington, D.C. on Thursday, May 5, 2022. (Photo by Yasin Ozturk/Anadolu Agency via Getty Images)

President Biden and first lady Dr. Jill 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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