Former President Donald Trump said much of the “blame” for the Republican Party’s middling performance in last week’s midterm elections was “correct,” but he shrugged off concerns about the GOP’s power as he announced he will once again seek the White House in 2024.

“Much criticism is being placed on the fact that the Republican Party should have done better, and, frankly, much of this blame is correct,” he said. “But the citizens of our country have not yet realized the full extent and gravity of the pain our nation is going through, and the total effect of the suffering is just starting to take hold.”

The former president added that he believed Republicans were too ambitious in their hopes for a red wave, saying any win should make them happy. The party is likely to win narrow control of the U.S. House this week as remaining votes are tallied.

Trump had long been expected to run again, but Tuesday’s announcement will set the stage for a long, and potentially full, race for the Republican nomination. Several high-profile Republicans are expected to throw their hats into the ring, including Florida Gov. Ron DeSantis, riding high on a huge reelection victory last week, and former Vice President Mike Pence, who said Monday he is actively considering a bid.

The former president still holds significant power over large swaths of the Republican Party, despite several ongoing criminal investigations and his dual impeachments. But cracks in the GOP have begun to emerge among some party leaders who blame Trump and his divisive politics for the poor showing in the midterm elections.

Trump, however, touted his brand on Tuesday, pointing to hundreds of midterm election candidates who bore his endorsement and won their races. He didn’t mention that many of those candidates in competitive races lost.

During Tuesday’s event, Trump reiterated his endorsement of Herschel Walker, who is running for Georgia’s U.S. Senate seat and will compete against Democratic Sen. Raphael Warnock in a runoff on Dec. 6.