Biden warns of rising oligarchy in farewell address as he prepares to hand presidency to Trump
In his farewell address, President Joe Biden warned of a growing oligarchy in America, citing the increasing power of the ultra-wealthy as a threat to democracy. He highlighted concerns about the free press, military influence, and political corruption. Biden's presidency ends after a single term, following his decision to withdraw from the 2024 race amid party pressure. He will hand over the presidency to Donald Trump, who he previously defeated in 2020. Biden also announced a ceasefire deal between Israel and Hamas, marking a significant diplomatic achievement. He reflected on his political journey and expressed intentions to remain active in politics after leaving office.