"We are about to have a new Congress in Washington in January," Reed said to a tempered round of applause, before briefly discussing federal efforts to help state and local community development.

He suggested that the banking committee under Democratic control would seek to strengthen federal support for local initiatives like affordable housing.

Reed was scheduled to appear at a ribbon-cutting ceremony at an affordable housing complex in Woonsocket later in the morning. And he's planning to hold a press conference at 11:30 a.m. to discuss efforts to preserve health insurance for Rhode Island's low-income chidren.

Reed said he'd spend much of the coming weeks traveling back and forth to Washington as Democrats make the transition to the Senate majority. He's also been preoccupied with his personal life.

His wife is expecting their first child in less than two weeks.