Vice President Joe Biden ended speculation about a possible 2016 presidential run by announcing from the White House on Wednesday that he will not enter the race.

"Unfortunately, I believe we are out of time... to mount a campaign for the nomination," Biden said from the Rose Garden, flanked by his wife Jill Biden and President Obama.

Though he will not seek the presidency, Biden indicated he will not simply disappear from national politics.

"While I will not be a candidate," he said, "I will not be silent. I intend to speak out clearly and forcefully."

Watch his statement from the Rose Garden (remarks begin at approximately 7:20):