"Today an oligarchy is taking shape in America that literally threatens our democracy, our basic rights, our freedoms," the president said.

In his final speech from the Oval Office, President Biden urged the country to remember its roots and not surrender its values at the altar of a populist nationalism that he sees as dangerous.

For the second time in a week, the outgoing president sounded the alarm on “abuse of power” and the ongoing assault on democracy.

President Joe Biden 's farewell address on Wednesday came with a series of warnings for the future of the country, including a rising “oligarchy taking shape” that he said threatens American democracy.

President Joe Biden offered up a few surprises in his farewell address. Instead of simply summing up his term in office, he warned Wednesday about the increasing influence of the ultrawealthy, criticized disinformation on social media and called for continuing the fight against climate change.

The outgoing US president warned against power in the hands of the wealthy, the threat of the tech industry and climate change.

President Joe Biden will deliver a farewell address to the nation Wednesday night, seizing what may be his final opportunity to reshape Americans' grim views on his term