US: Nancy Pelosi Resigns
Democrat Nancy Pelosi, who is the first female speaker of the US House of Representatives, will step down as party leader when Republicans take control of the chamber in January.
"I will not seek re-election to the leadership of the Democratic Party in the next Congress. The time has come for a new generation to lead the Democratic faction". Pelosi said in an emotional speech on the House floor.
The 82-year-old Pelosi's retirement from party leadership marks the end of an era in Washington. It comes as the Republican Party secured a slim majority in the House of Representatives in last week's midterm elections. Democrats retained control of the Senate.
President Joe Biden, who is Pelosi's fellow party member, hailed her as a "passionate defender of democracy" and "the most consistent Speaker of the House in our history."
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