President Barack Obama will hold a postelection news conference on Wednesday.

The White House said Tuesday that Obama will take reporters' questions Wednesday at 1 p.m. in the East Room.

It'll be the first chance for Obama to react to what are widely forecast to be major Democratic losses in the midterm elections, including the possible Republican capture of one or both houses of Congress.

The announcement came as Obama continued a round of radio station interviews, phoning in from the Oval Office to talk shows in Los Angeles, Chicago, Jacksonville and Las Vegas.