By Trend

US House of Representatives Speaker Nancy Pelosi, the first woman to hold the position, announced on Thursday that she will step down as the chamber's Democratic leader, as the party prepares to pass the torch to Representative Hakeem Jeffries, Trend reports citing Euronews.

The 82-year-old political veteran, who has served as speaker twice, affirmed that this would not be her exit from politics, as she intends to remain in Congress.

A California native, Pelosi will continue to represent San Francisco, as she has done for over three decades.

Pelosi made the announcement a day after Republicans secured a slim majority in the chamber following last week's midterm elections, where an expected conservative "red wave" failed to materialise and left the Senate under the Democrats' control.

In a statement, Democratic President Joe Biden called Pelosi "the most consequential speaker of the House of Representatives in our history."