In 1789, Washington was elected president without any competition, making him the first President of the United States. While Washington did not belong to any political party, he agreed with certain Federalist Party policies, such as the country should have a standing army and a national bank. He was re-elected to a second term. After his second term, Washington decided not to run for reelection, despite his popularity remaining high. His decision, to stop at 2 terms, set a precedent that every president followed until Franklin D. Roosevelt in 1940.