Biden hails midterm results, says plans to stand for re-election in 2024

US President Joe Biden has expressed relief after Democrats fended off major Republican gains in the midterms.

Republicans are inching towards control of the House of Representatives, but Mr Biden noted that a “giant red wave” did not materialise on Tuesday night.

Either party could still win the Senate, which hinges on three races that are too close to call.

The party in power, currently the Democrats, usually suffers losses in a president’s first midterm elections.

Republican strategists had been hopeful of sweeping victories, given that inflation is at a 40-year-high and Mr Biden’s approval ratings are relatively low.

But exit poll data suggests voters may have punished Republicans for their efforts to restrict access to abortion.

Speaking at the White House on Wednesday afternoon, Mr Biden said the results so far had made him breathe a “sigh of relief”.

“It was a good day, I think, for democracy,” he said.

He added that his optimism had been vindicated, and ribbed journalists who had predicted heavy Democratic losses.

Buoyed by the better-than-expected night, Mr Biden said he plans to stand for re-election in 2024. “Our intention is to run again, that’s been our intention,” Mr Biden, who turns 80 this month, told reporters.

Republicans, meanwhile, were closing in on the 218 seats they need to wrest control of the House from Democrats.