Joe Biden won't run for president

Vice President Joe Biden will not seek the presidency, a decision that will solidify Hillary Clinton's position as the heavy favorite for the Democratic nomination.

Biden announced his decision not to run from the White House, after several weeks in which groups supporting his run pour millions of dollars into the effort to lure him into the race.

Biden told reporters that he believed the "window has closed" on what would have been his third try for the Democratic nomination. Biden's announcement comes just three days before the Jefferson-Jackson dinner in Iowa, an important stop on the campaign trail.

"As my family and I have worked through the grieving process, I've said all along what I've said time and again to others, it may be that the process closes the window on mounting a real campaign for president," he said. "I've concluded it has closed. There is no timetable for this process. The process doesn't respect or care for tings like filing deadlines or debates or primaries and caucuses. But I also know that I couldn't do this if the family wasn't ready."