President Biden has reportedly told former President Obama that he does intend to run for a second term despite speculation he will opt out of the 2024 campaign cycle.

The Hill reports:

“[Biden] wants to run and he’s clearly letting everyone know,” said one of the two sources familiar with the conversations between Obama and Biden.

The source also said that Biden, despite his faltering approval ratings, remains the most likely Democratic candidate to defeat Trump. This was a key part of Biden’s salesmanship to voters as he sought support for his 2020 bid — and a big reason primary voters rallied to him in South Carolina and Super Tuesday states where he sealed his status as the Democratic front-runner.

“I believe he thinks he’s the only one who can beat Trump. I don’t think he thinks there’s anyone in the Democratic party who can beat Trump and that’s the biggest factor,” the source familiar with the Obama–Biden talks said.

Biden and Obama had lunch together earlier this month, but it is unclear exactly when the two discussed 2024.