Story highlights If Joe Biden decides to run in 2020, he'd be running as the oldest presidential candidate in US history

Of his years in elected office, Biden said, "That's what I'm proudest of. My name."

(CNN) Vice President Joe Biden wants a say in the direction of the Democratic Party as it picks up the pieces from a nightmare electoral loss this year -- and isn't willing to fully rule out a bid for the presidency if he thinks issues of economic fairness aren't being voiced.

"Four years is a lifetime in American politics," he told CNN's Jake Tapper in an interview on "State of the Union." "And I think nominees are determined by their parties based mostly on what skill set is most needed at that time."

"Who knows where we're going to be two years from now when people are really starting to look seriously at what they're going to do," he said.

His comments came after a week of public back-and-forth on the prospects of a run in 2020; he somewhat facetiously told reporters on Capitol Hill Monday he was going to run, only to return Wednesday to the Capitol and insist "I have no intention of running."

If Biden, now 74, decides to run for president in 2020, he'd be asking Americans to elect the oldest commander-in-chief in US history; Donald Trump, 70, will assume that record when he's sworn in next month.

Read More