Jim Watson/Agence France-Presse-Getty Images)

President-elect Barack Obama presented his national security team at a news conference in Chicago on Monday. (Photo: Jim Watson/Agence France-Presse-Getty Images)

That’s a Wrap | 11:35 a.m. As they all walked off stage, Mr. Obama put his arm around Mrs. Clinton and escorted her out while the others tagged along. The entire press conference underscored that, at least for now, Mrs. Clinton is first among equals.

Iraq | 11:34 a.m. The last question was whether Mr. Obama still intended to withdraw American forces from Iraq within 16 months of his inauguration.

Mr. Obama said America is on a path to reducing forces in Iraq but didn’t answer the question directly. He said he would listen to the recommendations of commanders in the fields and that his priority would be to keep the troops safe.

All You’re Going to Get | 11:33 a.m. Asked for details of how they came together after the marathon primary, Mr. Obama wasn’t too forthcoming. He said she is tough and smart and disciplined and shares his core values and that he was “always interested” after the primary in finding ways in which they could collaborate.

“I extended her the offer and she accepted,” he said blandly, adding: “I know that’s not as juicy a story as you were hoping for, but that’s all you’re going to get.”

Reconciliation | 11:28 a.m. You knew some of those old quotes from the primary trail would come up — Mr. Obama suggested at one point that Mrs. Clinton’s global experience consisted of having tea — so how have they come to reconcile their differences?

“This is fun for the press to try to stir up whatever quotes were generated during the course of the campaign,” he says, batting away the suggestion. He directs reporters to look at the statements that Mrs. Clinton and he have made outside of the heat of a campaign. He says they share a view that America has to be safe and secure and in order to do that “we have to combine military power with strength and diplomacy,” we have to build and forge stronger alliances around the world. “I believe there’s no more effective advocate than Hillary Clinton for that well-rounded view” for how we advance America’s interests around the world.

He went on to cite her service on the Armed Services committee, she knows world leaders and she and he have discussed the “strategic opportunities” that exist out there to strengthen American’s posture in the world. “She’ll be an outstanding Secretary of State,” he says, “and if I didn’t believe that, I wouldn’t have offered her the job and if she didn’t believe I’m equipped to lead this nation, she would not have accepted.”

‘Buck Will Stop With Me’ | 11:20 a.m. Q: How can you ensure that the staff will be smoothly-functioning team of rivals?

Mr. Obama gave a lengthy answer here. He said that they have worked together before, have respect for each other and are outstanding public servants. “They would not have agreed to join my administration and I wouldn’t have asked them unless we share a core vision on what’s needed to keep the American people safe,” he said. He said his picks would not have left their current jobs if they weren’t convinced they could work together as an effective team.

He also added that he is a strong believer in having strong personalities and strong opinions. People in the White House can “get wrapped up in group think” but he said he will welcome vigorous debate inside the White House. But understand, he said, “I will be setting policy as president,” and he will be responsible for the vision this team is carrying out. “The buck will stop with me.”

Biden Speaks | 11:05 a.m. The other Obama appointees gave briefer, more perfunctory comments. Now, even Vice President-elect Joseph R. Biden Jr. is getting the chance to speak.

He’s been up on these stages with Mr. Obama several times now, but mute. He congratulates Mr. Obama for picking a “first-class team” (and makes no mention of how he and Mrs. Clinton might work together).

A Difficult and Exciting Adventure | 11:01 a.m. In reference to various crises around the world, Mrs. Clinton said that America cannot solve them without the rest of the world and the world can’t solve them without America.

In a nod to the fact that Mr. Obama will be the boss, Mrs. Clinton said that with his election, the American people have demanded a new direction at home and a renewed effort to improve American’s standing in the world.

She said that “the best way to continue serving my country” is to join Mr. Obama “at this defining moment.”

Paraphrasing President Kennedy, she said: “I am proud to join you on what will be a difficult and exciting adventure in this new century, and may God bless you and all who served with you and our great country.”

Now a Word From the Former President | 10:59 a.m. Former President Bill Clinton released the following statement:

    As an American, I am thankful that President-elect Barack Obama has asked Hillary to be Secretary of State and that she has accepted. As her husband, I am deeply proud.
    She is the right person for the job of helping to restore America’s image abroad, end the war in Iraq, advance peace and increase our security, by building a future for our children with more partners and fewer adversaries, one of shared responsibilities and opportunities.
    She has already earned the respect of foreign leaders and diplomats through her work to promote human rights and the empowerment of women through access to education, healthcare and economic opportunity. And Americans know, from her leadership in the Senate on national security, that she will always put the security, values and the interests of our people first.
    In her service to the people of New York and our nation, Hillary has demonstrated the knowledge, passion, resilience, and capacity to learn that our country needs at this critical time. She loves being a Senator from New York, but as she has in all the thirty-seven years I’ve known her, she answered the call to serve. I commend President-Elect Obama for asking her to be a part of a great national security team. America will be well-served.

Clinton Thanks New Yorkers | 10:55 a.m. When Mr. Obama introduced his other nominees, none of them spoke. But this occasion clearly called for words from Mrs. Clinton, and Mr. Obama couldn’t very well let her speak and no one else, so now they are all getting a chance to say a few words.

Mrs. Clinton gave something of a valedictory address. She thanked New Yorkers — this is her first time acknowledging to her constituents that she is leaving the Senate. She said they had prepared her for this new job because they aren’t afraid to speak their minds and they do so in many languages. She also used some phrases that Clinton-watchers have heard since her husband’s first presidential campaign in 1992, saying she wanted to help everyone achieve their God-given potential.

The Team Speaks | 10:54 a.m. Mr. Obama invites the members of his team to speak, beginning with Mrs. Clinton.

Get to Work | 10:51 a.m. Mr. Obama said his new team met this morning to discuss the situation in Mumbai. He emphasized the non-partisan nature of their task.

An American ‘of Tremendous Stature’ | 10:47 a.m. Mr. Obama introduced Mrs. Clinton first, calling her a friend, a tough primary opponent and intelligent and said she had a remarkable work ethic. He said she was an American “of tremendous stature” who would have his complete confidence and command respect in every capital around the world. “I have no doubt that Hillary Clinton is the right person to lead our State Department,” he said.

A Unique Team | 10:46 a.m. “The team that we have assembled here today is uniquely suited to do just that,” Mr. Obama said. “They share my pragmatism about the use of power, and my sense of purpose about America’s role as a leader in the world.”

The Team | 10:42 a.m. Mr. Obama’s new national security team is now on stage: Mrs. Clinton; Robert M. Gates, the current defense secretary, who will remain in that job; Gen. James L. Jones, the former NATO commander, will be national security adviser; Gov. Janet Napolitano of Arizona will be homeland security chief; Eric Holder will be attorney general; and Susan Rice, ambassador to the United Nations.

‘Looking Forward to You Advising Me’ | 10:25 a.m. As we await Barack Obama’s news conference in a few minutes (10:40 a.m. Eastern), our minds drift back to one of the wittier moments of the long debate season.

It was last December, before the Iowa caucuses, when Mr. Obama was asked how his administration would differ from Bill Clinton’s administration if he planned to appoint so many Clinton advisers.

Senator Hillary Clinton, who was off screen, piped up with a laugh: “I want to hear that!”

“Well, Hillary,” Mr. Obama responded coolly, “I’m looking forward to you advising me, as well.”

It was a brilliant comeback, but few saw it as prescient.

But here we are, less than a year later, with President-elect Obama about to name his former rival as his Secretary of State, a position in which she will indeed be advising him and representing him on some of the most important matters he will face.

For weeks, anonymous Democrats have been whispering about why Mr. Obama made this unexpected choice (“team of rivals,” “global brand,” etc.) and why Mrs. Clinton is choosing to give up her independent power base in the Senate (dead-end job) and head to State (high-profile fiefdom, her own staff, access to the president).

But today, we will hear directly from Mr. Obama about why he is picking her, and we’ll be live blogging it right here. Come back in a few minutes.

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