Fred: The Other Boot Drops? (Update: Fred Statement Added)

According to Ambinder, Fred has told friends he's decided to drop out, and will make his announcement shortly.

Geraghty's reporting there will be no endorsement.

Fred speaks:

McLean, VA - Senator Fred Thompson today issued the following statement about his campaign for President:

"Today I have withdrawn my candidacy for President of the United States. I hope that my country and my party have benefited from our having made this effort. Jeri and I will always be grateful for the encouragement and friendship of so many wonderful people."