Former U.S. Vice President Joe Biden listens to the speakers during Class Day Exercises at Harvard University in Cambridge, Massachusetts, U.S., May 24, 2017, ahead of the University's 366th Commencement Exercises. REUTERS/Brian Snyder

(Reuters) - Former Vice President Joe Biden will announce on Thursday the formation of a political action committee (PAC), a signal that he is at least considering a possible run for president in 2020, the New York Times reported on Wednesday.

Biden’s PAC will be called “American Possibilities” and run by his former aide Greg Schultz, who also worked on President Barack Obama’s two White House campaigns, the paper said.

The 74-year-old former vice president considered a run against Hillary Clinton for the Democratic nomination in 2016 before bowing out, citing family concerns in the wake of his son’s death.

Clinton lost the presidential election to Republican Donald Trump in November.