Among the more than a dozen Democrats now eyeing the White House, Pete Buttigieg stands out. But not just because he's the only openly gay, Midwestern mayor in his 30s in the race.

He's also the only Democrat hopeful who still hasn't transitioned his campaign from exploratory committee to formal presidential bid. It's a decision Buttigieg says he is not taking lightly and a topic he discussed to kick off an appearance on "Fox News Sunday" with Chris Wallace.

"What are you exploring, and when are you going to decide whether to get in?" Wallace asked Buttigieg as the South Bend mayor served as inaugural guest of the show's new "Fox News Sunday Sitdown" segment leading up to the 2020 Iowa caucuses.

Buttigieg explained that he put together his exploratory committee to see what the response would be, and to answer a few important questions before moving forward.

"Would anybody take note? How would the fundraising go? Would there be a level of interest?" Buttigieg said. "Now we're seeing all of those things. But because I'm not highly famous and I'm not personally wealthy, it takes a little bit to get the organization in place for a launch."

"You only get to launch once, and I've got to tell you, I'm not going to make any news this morning. But all of the signs are pointing in the right direction, and when we do come out, it's going to be a big one."

Gathering support:Buttigieg says he's hit 65,000 donors. Why that's significant.

IndyStar has brought you the news for 116 years. Help us keep doing it.

During the 11 minute conversation, Buttigieg and Wallace chatted about topics like Buttigieg's record as mayor, his thoughts on the future of healthcare, and his ideas to expand the Supreme Court to make it less political.

Wallace said that with so many people stepping up to run for president, voters are just trying to make sense of a crowded field. When asked what political lane he occupies, Buttigieg said the idea the idea of fitting neatly on an ideological spectrum is less relevant today.

He said that part of his success in South Bend came from governing in accordance to progressive values while also getting strong support from Republican and Independent voters. Buttigieg added that instead of managing where he landed on a left-right spectrum, he was more focused on trying to do the right thing.

"I think more and more people just want to know what your ideas are and whether they make any sense," he said. "I view myself as a progressive, but these labels are becoming less and less useful."

Wallace then asked Buttigieg how he planned to recapture the industrial Midwest — a part of the country Buttigieg said Democrats "lost touch" with in 2016 — from Donald Trump.

"I don't think it's just about Donald Trump. As a matter of fact, I think in many ways he's a symptom rather than a cause," Buttigieg said. "Where I come from there are a lot of people, and I think there are a lot of viewers of this network, who are under no illusions about the character of the president, but voted this way in order to make a statement. Some people I think voted to burn the house down because they've seen how for years, Democrat and Republican presidencies produced economic, and social, and political results that let them down."

Wallace then asked Buttigieg why he was in such a rush to run for president at just 37 years old.

"Why not wait a few years?" Get some more experience, build up a bigger record, get better known and run for president, say, at the ripe old age of 41?" Wallace asked.

Buttigieg said it's not about becoming president. He said it's about what America needs, the moment and what he brings to the table.

"To the surprise of many, including myself, this moment could be the only moment over the last 100 years or the next 100 years when it's appropriate for someone like me to be in this conversation," he said. "But I'll tell you, with that moment shaping up, I'm not going to miss that moment."

On Saturday, Buttigieg announced that 65,000 people have donated to his exploratory committee. That mark that qualifies him to be invited to the first Democratic National Committee debate in June.

Buttigieg released a political memoir in February, a 300-page autobiography that attempts to introduce him to people outside of Indiana. He stopped in Indianapolis as part of a 10-city tour for the book, talking to hundreds at IUPUI about being a millennial in Indiana, his stances on health care and gun violence, and his advice to LGBTQ youth.

Buttigieg, who came out as gay during his 2015 mayoral re-election campaign, would be both the nation’s first openly gay president and its youngest, if elected.

Facebook editor Andrew Clark contributed to this story. Call IndyStar reporter Justin L. Mack at 317-444-6138. Follow him on Twitter: @justinlmack.