Several media outlets have reported that Joe Biden, considered the guaranteed nominee of the US Democratic Party until recently, is ready to withdraw from the US presidential race:

The avalanche of news on Biden’s possible decision to quit the race started when journalist and Newsmax commentator, Mark Halperin, said he had “multiple sources” informing him of Biden’s plans to withdraw his candidacy. The president would announce it as early as this weekend, Halperin had stated.

“A speech has been drafted for him,” Newsmax quoted Halperin as saying at the Republican National Convention in Milwaukee. Halperin added that Biden would continue to serve as president until his term expires, and would not endorse Kamala Harris.

Later, the Washington Post (WP) shed light on the “behind-the-scenes role” of Nancy Pelosi in persuading Biden “to exit race.”

“The former House speaker [Nancy Pelosi] told some House Democrats that… Biden can be persuaded fairly soon to exit the presidential race, amid serious doubts he can win in November, according to three Democratic officials,” the newspaper wrote. It added that Pelosi’s “behind-the-scenes role” in removing Biden from the race involved representing “rank-and-file Democrats” by “relaying their messages to the White House.”

The Financial Times (FT) revealed that US elites have resorted to tougher means to persuade Biden. The newspaper reports that donors “threatened to halt funding for his [Biden’s] campaign” and “heaped” pressure on the Democratic Party’s “grandees”, including Chuck Schumer, Hakeem Jeffries, and Nancy Pelosi. Due to the financial factor, “the pressure is insurmountable”, an insider told the FT.

NBC reported that even Biden’s most defiant backers have abandoned him, quoting an unnamed “person close to Biden” as saying “we are close to the end.”