President-elect Barack Obama was taking time out from piecing together his leadership team Tuesday to honor the country's fallen veterans, CNN reported.
President Bush and President-elect Barack Obama meet in the Oval Office on Monday.
Obama laid a wreath in Chicago, Illinois, and Vice President-elect Joe Biden gave a speech at a Veterans Day event in New Castle, Delaware.
Obama called on Americans to "rededicate ourselves to keep a sacred trust with all who have worn the uniform of the United States of America: that America will serve you as well as you have served your country."
"As your next commander in chief, I promise to work every single day to keep that sacred trust with all who have served," he said in a statement.
John Podesta, the co-chair of the Obama-Biden transition team, was expected to provide an update on the presidential transition Tuesday afternoon.
No Cabinet appointments were expected this week, but Obama's transition team could make some key staff announcements as early as Tuesday.
With the transition process under way, President Bush welcomed the president-elect to the White House on Monday.
The two had a "relaxed" and "friendly" meeting, a White House spokesman said.