President Bush has nominated National Security Adviser Condoleezza Rice to be his new secretary of state.

In his announcement at the White House today (Tuesday), the president said Ms. Rice is the "right person" to handle foreign policy challenges that include the war on terror and the Israeli-Palestinian conflict.

He said Ms. Rice has a "deep and abiding belief in the value and power of liberty," and that he has relied on her counsel and her "sound and steady judgment."

Ms. Rice made a brief statement thanking the president and saying she looks forward to pursuing his "hopeful and ambitious agenda."

Ms. Rice will replace Secretary of State Colin Powell, whose resignation was announced Monday. The nomination requires Senate approval.

Mr. Bush also announced today that he is appointing Ms. Rice's deputy, Stephen Hadley, to replace her as national security adviser.