In his speech, which lasted a little more than 10 minutes, Biden outlined what he plans to do with the six months he has left in office.
"Grow our economy. I'll keep defending our personal freedoms and civil rights - from the right to vote to the right to choose," Biden said.
The 81-year-old president also spent much of his speech focused on foreign policy. He said he wants to strengthen NATO, stop Russian President Vladimir Putin from taking over Ukraine, and help to end the war in Gaza.
Watch Biden's full address
Biden delivers prime-time address on decision to exit 2024 race
"He had to remind us that there is really a lot of work left to do," said Randall Miller, a professor emeritus at St. Joseph's University.
Miller spoke with Action News after the address to discuss its impact.
On June 27, Miller sat with Action News' Caroline Goggin to watch the debate, which became the turning point in Biden's campaign for re-election.
Regarding Wednesday night's speech, Miller said Biden looked in control.
"A look and presentation that suggested, 'I'm in control. Everything's alright. I'm still your champion,'" Miller explained. "That the next six months, he's going to be a president that fights - that fights to fulfill the agenda he laid out in his inauguration."
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Biden didn't address whether his age or health factored into his decision to bow out of the election and endorse Vice President Kamala Harris as the Democratic nominee.
"One of the things people were hoping he would say in his speech is why he chose to get out of the campaign, and he never addressed that at all," Miller said.
Miller described the speech as short yet effective.
He said Biden was able to pack in the accomplishments of his administration while also speaking about the importance of democracy.
"He also invoked the idea of America. That America is an idea, quoted from the Declaration of Independence, of course. And, remind people that it's never been about him, that it's really about us," Miller noted.