It’s official: Obama is president

This article has been updated.

With the words, “I, Barack Hussein Obama, do solemnly swear…” moments ago, the new president of the United States put an end to the Bush era and formally began a new period in which he has promised to end the Iraq war, repair a sinking economy and change the way Washington does business.

“My fellow Americans, I stand here today humbled by the task before us, grateful for the trust you’ve bestowed, mindful of the sacrifices born by our ancestors,” Obama told a crowd of millions of people in Washington and tens of millions more on television, radio and the Internet shortly after being sworn in by Supreme Court Chief Justice John Roberts.

“Today I say to you that the challenges we face are real. They are serous and they are many,” Obama said. “… But know this America — they will be met. On this day, we gather because we have chosen hope over fear, unity and hope over conflict and discord.”

I’ll have more updates, so check back.

Update, 10:25 a.m.

You can read the text of Obama’s inaugural speech by clicking here.

Update, 12 p.m.

Here’s the full video of Obama’s swearing-in and speech: