Former US president Barack Obama and ex-House Speaker Nancy Pelosi Sunday praised President Joe Biden for deciding to step aside from the presidential race but stopped short of endorsing Vice President Kamala Harris as the Democratic Party's nominee for the November 5 general elections.

Biden (81) announced that he was withdrawing from the race to be the next president, following mounting pressure from Democrats after a faltering debate performance against Republican candidate Trump last month. He has endorsed 59-year-old Harris to be the new Democratic nominee.

Though Biden's endorsement almost seals Harris' position as the presidential nominee of her party, she still needs to get elected by the party's delegates during the Democratic National Convention in Chicago next month. Biden has 3,896 delegates in his kitty, as against 1,976 required to win the nomination.

Harris immediately secured the endorsement of former president Bill Clinton and former Secretary of State Hillary Clinton to be the nominee, thus making it a bit easier for her to win the delegate battle during the Democratic National Convention in Chicago beginning August 19.

However, Obama, who is considered to be Harris' mentor, did not immediately endorse her.

"We will be navigating uncharted waters in the days ahead. But I have extraordinary confidence that the leaders of our party will be able to create a process from which an outstanding nominee emerges," the former president said in a statement.

"I believe that Joe Biden's vision of a generous, prosperous, and united America that provides opportunity for everyone will be on full display at the Democratic Convention in August. And I expect that every single one of us is prepared to carry that message of hope and progress forward into November and beyond," Obama said.

He said Biden has been one of America's most consequential presidents, as well as a dear friend and partner to him. "Today, we've also been reminded -- again -- that he's a patriot of the highest order," Obama said.

"I also know Joe has never backed down from a fight. For him to look at the political landscape and decide that he should pass the torch to a new nominee is surely one of the toughest in his life. But I know he wouldn't make this decision unless he believed it was right for America." It is a testament to Joe Biden's love for the country and a historic example of a genuine public servant once again putting the interests of the American people ahead of his own that future generations of leaders will do well to follow, Obama added.

Former House Speaker Nancy Pelosi also did not immediately endorse Harris.

"President Joe Biden is a patriotic American who has always put our country first. His legacy of vision, values and leadership make him one of the most consequential Presidents in American history," she said.

"With love and gratitude to President Biden for always believing in the promise of America and giving people the opportunity to reach their fulfilment," she said.

Multiple media reports claimed that she has been advocating for an open convention of the Democratic Party.

House Minority Leader Hakeem Jeffries said Biden's decision to step aside in the 2024 election is "another heroic act in a long-running series of heroic acts by Joe Biden on behalf of the American people".

He described Biden as one of the most consequential presidents in American history. "In less than one term, he rescued the nation from a once-in-a-century pandemic, brought the economy roaring back from the brink of recession, enacted consequential legislation for everyday Americans and saved our democracy by defeating the Insurrectionist-in-Chief," he said.

"America is a better place today because President Joe Biden has led us with intellect, grace and dignity. We are forever grateful," Jeffries added.

Earlier, Biden announced that he has decided not to contest the presidential election.

"My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it's been the best decision I've made," Biden said.

The 81-year-old president's decision comes four months before Americans go to the polls on November 5.

Such a decision from Biden comes amid a visible deterioration in his health. The president is currently in self-isolation at his Delaware residence after he tested positive with COVID-19.

Biden said he will speak to the nation later this week in more detail about his decision.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.