WASHINGTON (AP) — Stepping into history, Barack Hussein Obama grasps the reins of power as America’s first black president in a high-noon inauguration amid grave economic worries and high expectations.

Braving temperatures in the teens, hundreds of thousands of excited people descended on the heavily guarded capital city Tuesday for the first change of administrations since the terror attacks of Sept. 11, 2001. They packed the National Mall from the Washington Monument to the U.S. Capitol for a glimpse of the proceedings and, in the words of many, simply “to be here.”

Two years after beginning his improbable quest as a little-known, first-term Illinois senator with a foreign-sounding name, Obama moves into the Oval Office as the nation’s fourth youngest president, at 47, and the first African-American, a barrier-breaking achievement believed impossible by generations of minorities.

Around the world, Obama’s election electrified millions with the hope that America will be more embracing, more open to change.

The dawn of the new Democratic era — with Obama allies in charge of both houses of Congress — ends eight years of Republican control of the White House by George W. Bush. He leaves Washington as one of the nation’s most unpopular and divisive presidents, the architect of two unfinished wars and the man in charge at a time of economic calamity that swept away many Americans’ jobs, savings and homes.

Bush — following tradition — left a note for Obama in the top drawer of his desk in the Oval Office.