Democratic officials say U.S. Senator Christopher Dodd (D) will announce his bid for the 2008 presidential race Thursday morning.Dodd, 62, is expected to make the formal announcement in an interview on the "Imus in the Morning" radio show. Just this month, the 26-year Senate veteran became chairman of the influential Senate Banking Committee and is also a senior member of the Foreign Relations Committee. During his time in Washington, Dodd has created strong ties with labor unions and believes in fiscal corporate accountability. He is also said to be a critic of the war in Iraq.Dodd enters the race in a party surrounded by rumors of big-name contenders such as New York Senator Hillary Clinton and Illinois Senator Barack Obama. Iowa Governor Tom Vilsack, former North Carolina Senator John Edwards and Ohio Representative Dennis Kucinich have already announced their candidacies.