Read a transcript of Biden’s speech on dropping out of the presidential race

‘I’ve decided the best way forward is to pass the torch to a new generation,’ Biden said in a speech from the Oval Office

Joe Biden has explained his decision to drop out of the presidential race, saying it was the “best way to unite our nation”.

The US president’s remarks were broadcast from the Oval Office, his first televised appearance since announcing he would end his bid for re-election, and conveyed a reflective and hopeful message.

My fellow Americans, I’m speaking to you tonight from behind the resolute desk in the Oval Office. In this sacred space, I’m surrounded by portraits of extraordinary American presidents.

Thomas Jefferson wrote the immortal words that guide this nation. George Washington showed us presidents are not kings. Abraham Lincoln, who implored us to reject malice. Franklin Roosevelt, who inspired us to reject fear.