President Biden delivered his farewell address to the nation on Wednesday evening, taking a victory lap for the Israel-Hamas ceasefire agreement and warning Americans of an “oligarchy” in the U.S. that “threatens our entire democracy.”

“My fellow Americans, I speak to you this evening from the Oval Office. Before I begin, let me address some important news from today. After eight months of continuous negotiations, my administration – through my administration – has reached a ceasefire and… “A hostage agreement has been reached between Israel and Hamas, the elements of which I detailed in May of this year,” Biden said in his inaugural address.

“This plan was developed and negotiated by my team and will be widely implemented by the new administration. That’s why I told my team to keep the new administration fully informed, because that’s what it should be like to work together as Americans,” he continued.

Israel and Hamas agreed to a ceasefire agreement on Wednesday that also secured the release of hostages. A recent meeting between Trump’s new Middle East envoy Steve Witkoff and Israeli Prime Minister Benjamin Netanyahu reportedly played a crucial role in the deal, sources told Fox News Digital.

PRESIDENT BIDEN RELEASES FAREWELL LETTER SAID IT WAS “A PRIVILEGE OF MY LIFE TO SERVE THIS NATION”

In his farewell address, the president also warned Americans of a “dangerous concentration of power in the hands of a few very wealthy people.”

“I would like to warn the country about a few things that are of great concern to me. … This is a dangerous concentration of power in the hands of a few super-rich people. “The dangerous consequences if their abuse of power goes unchecked,” he said.

Biden hesitates when asked if Trump deserves credit for Israel-Hamas ceasefire deal: “Is this a joke?”

“Today, an oligarchy of extreme wealth, power and influence is taking shape in America that literally threatens our entire democracy. Our fundamental rights, freedoms and a fair chance for everyone to move forward,” he continued.

Biden will officially leave the Oval Office on January 20, when President-elect Trump is sworn in as the 47th president around noon that day.

Biden’s speech also focused on the American dream and the “most powerful idea” that “we are all created equal.”

“The idea of ​​America itself was so big that we felt the whole world needed to see it. The Statue of Liberty, a gift from France after our civil war. Like the idea of ​​America itself, it was built not by one person but by… “Like America, the Statue of Liberty does not stand still on the top of a broken chain of human bondage,” he said.

FOX NEWS GET A LOOK INTO THE IDF’S WAR AGAINST HAMAS

“A nation of pioneers and explorers, of dreamers and doers, of ancestors native to this land, of ancestors who came by force. A nation of immigrants came to build a better life, a nation holding a torch. The most powerful idea of ​​all time, in the history of the world we are all created equal and deserve to be treated with dignity, justice and fairness. Democracy must be defended and enforced in every possible way. Our rights, our freedoms, our dreams,” he said.

Biden says he pushed through the “most aggressive climate agenda” in history when naming monuments in California

Biden continued to call for a series of measures for U.S. leaders to implement in the coming years, such as reforming the tax code to ensure billionaires “start paying their fair share” and “amending the Constitution “To make it clear that no president, no president, is immune from crimes he or she commits while in office.”

“We need dark money, which is the hidden financing behind too many campaign contributions. We have to get it out of our politics. We must pass an 18-year…term for the strongest ethics reform…for the Supreme Court. “We need to prohibit members of Congress from exercising power and trading stocks while they are in Congress,” he said.

Biden has spent more than 50 years in public office and put his name on the map in 1972, the landslide year of President Richard Nixon’s re-election, when, at age 29, he defeated a Republican incumbent in a drawn-out Senate race in Delaware defeated.

Biden served 36 years in office the US Senate, one of the longest Senate careers in the chamber’s history before joining former President Barack Obama in the 2008 election and serving as vice president for eight years.

“After 50 years of public service, I gave you my word. I still believe in the idea that this nation stands for. A nation where the strength of our institutions, the character of our people matter and must endure. Now it’s your turn.” May you all keep the faith, I love it. May God protect you all for this great honor.

Biden still regrets dropping out of 2024 presidential race and believes he could have beaten Trump: report

DONALD TRUMP ELECTED AS THE NEXT PRESIDENT OF THE UNITED STATES

The 46th president defeated Trump in the 2020 election and was expected to run against him again last year, but abruptly dropped out of the presidential race as concerns grew about his mental capacity. Vice President Kamala Harris was soon endorsed by Biden and other high-profile Democrats to become the party’s presidential nominee, but lost the election as Trump won all seven battleground states.

Biden has been an outspoken and repeated critic of Trump, calling him a “real threat to this nation” but promising to ensure a peaceful transfer of power and that he would “of course” attend Trump’s inauguration.

A Fox News poll released Wednesday found Trump to be the most popular he has ever been.

FOX NEWS POLL: TRUMP IS THE MOST POPULAR HE’S EVER BEEN

The poll found that 52% of voters approve of Trump’s handling of the transition, while 46% disapprove. This is a reversal from 2017, when only 37% approved and 54% disapproved.

New polls show Biden leaving office with approval ratings still buried deep in negative territory

While a CNN poll conducted by SSRS found that 36% of Americans approve of the job Biden is doing in the White House and 64% say they disapprove.

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Fox News’ Breck Dumas, Victoria Balara and Paul Steinhauser contributed to this report.