Citing various aide, the Bloomberg news agency reported late Thursday that Biden may announce his decision within several months after the midterm elections. The outlet noted that Biden's "accelerated coordination" with the Democratic National Committee is the "surest public indication" of his looming announcement.
It's expected that in the coming months Biden will begin to undertake more campaign-like public appearances designed to bolster the president's legislative wins during his first term.
White House Press Secretary Karine Jean-Pierre earlier confirmed on July 29 that Biden would be running in the 2024 presidential election, but steered clear of offering any indication as to when he would be officially stepping out as a potential candidate.
As for whether Biden will be facing off against his predecessor, it remains unclear. Former President Donald Trump has not yet stated whether he will be tossing his name for the 2024 White House race; however, recent reports have suggested the former commander-in-chief is readying his bid.
Biden has previously indicated that he would look forward to a rematch with Trump.