At a hastily announced news conference this afternoon, Vice President Joe Biden said he would not seek the Democratic nomination for the presidency.

“I believe we’re out of time—the time necessary to mount a winning campaign,” Biden said.

The vice president made the widely expected announcement flanked by President Barack Obama and Jill Biden in the Rose Garden.

“My family has suffered loss and I hope there would come a time,” Biden said, in reference to the passing of his son Beau Biden less than three months ago, “that, sooner rather than later, when you think of your loved one, it brings a smile to your lips than a tear to your eyes. That’s where the Bidens are right now.”

But, he said, the window has closed to mount a run.

Sill, the vice president promised that he wouldn’t be silent, saying he will “influence as much as I can, where we stand as a party and where we need to go as a nation.”