President Joe Biden is expected to announce his re-election campaign after the holiday season, says White House chief of staff Ron Klain.

"The president will make that decision. I expect it shortly after the holiday," said Klain on Monday at the Wall Street Journal's CEO Council summit. "I expect the decision will be to do it."

Biden currently serves as the nation's oldest president, turning 80 in November. For months the president has stopped himself short of a definitive answer, instead insisting the decision would be made in collaboration with his family.

Klain's suggestion that Biden will run again comes weeks after Biden's 2020 opponent, former president Donald Trump, announced his bid for re-election at his Mar-A-Lago residence.

Trump attacked Biden several times during his announcement, vowing to retake the presidency.

"I will ensure that Biden does not receive four more years. Our country could not take that. I say that not in laughter but in tears," Trump added.

Klain said Biden will receive support from Democrats should he announce a re-election campaign. A July CNN poll showed 75% of Democrats wanted someone other than Biden to run in 2024 but indicate that if Biden were to win the nomination, would receive their vote.

Democrat's surprising midterm showing allows Biden some breathing room, but as Republicans gain control of the House, the president will now have to contend with a split Congress for the first time in his administration.