White House Press Secretary Jen Psaki confirmed on Monday that President Joe Biden plans to run for re-election in 2024.

Why it Matters: Speculation has swirled over Biden’s plans for 2024 ever since he took office in January, especially in light of his advanced age and sagging approval ratings throwing a potential run for re-election into doubt.

In addition, the news may close the door for likely Democratic Presidential hopefully Vice-President Kamala Harris and Transportation Secretary Pete Buttigieg.

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