Joe Biden
U.S. Vice President Joe Biden delivers remarks at the U.S.-Ukraine Business Forum in Washington July 13, 2015.REUTERS/Yuri Gripas

Vice President Joe Biden has given another clue that he may be considering jumping into the Democratic presidential race. Biden, who is a favourite to go head to head with Hillary Clinton, allegedly met with Massachusetts Senator Elizabeth Warren on 22 August for two hours to discuss economic policy.

According to CNN, a source familiar with the meeting said the two Democrats did not really focus on the 2016 presidential campaign or the future of the vice president. Biden, who has not confirmed nor denied if he's running for the Democratic nomination, allegedly has a small team of advisers putting together a campaign and fundraising strategy in case he decides to jump in.

However, Biden spokeswoman Kendra Barkoff was quick to put down rumours that the vice president had already made a decision. "The vice president has not made a decision about his political future," Barkoff told the Wall Street Journal. "Anyone speculating that he has made a decision is wrong."

The vice president is expected to make his decision in the next month, which could shake things up in a race dominated by Clinton, and to a lesser degree, Bernie Sanders. CNN reported that Biden is believed to be the best choice if Democrats need to find an alternative to Clinton, who has suffered declining poll numbers and several scandals.

As Clinton continues to field questions and concerns about her email use during her time at the State Department, Democrats have been left wondering if nominating the front-runner to the party ticket is the best plan to grab the White House for a third term in a row.

Biden reportedly met with advisors in Delaware earlier this week to discuss the possibility of launching a third presidential run. He met with his political team in Wilmington, including allies Mike Donilon and former Senator Ted Kaufman, CNN reported.

Steve Schale, who directed President Barack Obama's two campaigns in Florida, told CNN, "Frankly when it became clear that he was giving the race serious consideration, I just raised my hand." Schale went on to join "Draft Biden," an independent group hoping to encourage Biden to run.

CNN noted that if Biden does decide to join the Democratic race, he may face scrutiny for flying to campaign events using Air Force Two. However, he could choose to combine campaign trips with official travel to offset costs.

Biden would also be a "clear underdog" were he to enter the race, the Wall Street Journal reported. A recent CNN/ORC poll showed Biden is polling behind Clinton (48%) and Sanders (27%), but is polling ahead of fellow Democratic candidates Martin O'Malley (2%), Jim Webb (1%) and Lincoln Chafee, who did not register in the poll.