Former First Lady Michelle Obama has said she is “moving towards retirement” and being more selective with the projects she takes on.

In an exclusive interview with People magazine, Michelle Obama said she and her husband, former president Barack Obama, were building up their foundation “so we can retire and be with each other.” 

Since leaving the White House both have remained in political life, such as campaigning on behalf of President Joe Biden.

There has also long been speculation Mrs Obama would herself run for office.

Yet in the new interview, she stated: “Barack and I are focused on developing the next generation of leaders through the Obama Foundation… so that each year we step further out of the spotlight and make room for them.”

Mrs Obama, 57, also elaborated on comments she made last year about how she was suffering from “low-grade depression.”

“That was during a time when a lot of hard stuff was going on,” she said. “We had the continued killing of black men at the hands of police. Just seeing the video of George Floyd, experiencing that eight minutes.

“That’s a lot to take on, not to mention being in the middle of a quarantine. Depression is understandable during these times.”