Biden Endorses Harris But What Happens Next

US President Biden has pulled out as the Democratic candidate for November’s election after reports that former President Obama and senior leader Pelosi had spoken to him privately that it was time. Biden has endorsed VP Harris but it is not a given that she will automatically be the party’s candidate. She will still need to have the endorsement of at least 1976 delegates at August’s Democratic Convention.

• Biden’s late withdrawal from the election, a situation which hasn’t occurred since 1968, means that there isn’t time to hold the usual primaries. His 3896 delegates will be released and if Harris is the only candidate are likely to support her. Already a number of Democrats have voiced their support, but she currently is well behind Trump in the betting markets.
• For anyone else to appear on the ballot at the 19-22 August convention, they will have to receive support of at least 300 delegates with not more than 50 from one state, according to the BBC. Then there would be an open convention with rounds of voting.
• There have been talks of California Governor Newsom, Michigan’s Whitmer (she has said she wouldn’t run), Pennsylvania’s Shapiro (he has endorsed Harris) and Transportation Secretary Buttigieg as possible candidates.
• The question of who will be candidate for Vice President is open now too.
• Market moves in reaction to the news have been muted so far, as speculation that Biden would step aside had been growing over recent weeks.