Update: Fox News' Major Garrett has learned that President Obama will make a statement about 1pm ET Thursday regarding the preliminary report the White House is releasing.
White House adviser on Homeland Security and Counter-Terrorism, John Brennan, and Homeland Security Secretary Janet Napolitano will brief the press following the President's remarks.
The White House plans to release a preliminary report Thursday regarding the foiled December 25th attack and the intelligence community's failure surrounding the incident.
"The review will simply identify and make recommendations as to what was lacking and what needs to be strengthened," explained Press Secretary Robert Gibbs Wednesday.
The President ordered the review from his top counter terrorism advisor, John Brennan, in days following the attack. Thursday's release will be an unclassified version of the report Brennan delivered to him. Mr. Obama is expected to make a statement on the report's findings, according to Gibbs.
Tuesday, following a 90 minute meeting with top intelligence officials, Mr. Obama said he would not tolerate "failure to integrate and understand the intelligence" that the U.S. had gathered about the 23 year old Nigerian, Umar Farouk Abdulmullatab, who boarded a Detroit-bound flight with explosives in his pants.
The President reiterated that the recommendations he seeks from his intelligence and counter terrorism teams should be "implemented immediately" to prevent future attacks.
Gibbs characterized that review process as a "dynamic one, where the president and John [Brennan] will continue to ensure that agencies are implementing their plans for correcting what was identified in each of those reviews," said Gibbs.
Whether that correcting translates to anyone being fired or resigning over the incident, is to be determined. While Gibbs left the door open to that possibility noting that he doesn't "know what the final outcome in terms of hiring and firing will be," he explained that the "broadness and the systemic nature of the [the intelligence] failure" is such that not any one person could be held responsible. Gibbs told reporters not to anticipate any such personnel announcements on Thursday.
Mr. Obama is also expected to announce new guidelines regarding airline screening, but those details will emerge in the coming days according to Gibbs.
Stay tuned to Fox News Channel and Row 2, Seat 4 for the latest updates.