In an emotional announcement, Fox News’ Peter Doocy and Fox Business reporter Hillary Vaughn have revealed the arrival of their first child, a beautiful baby girl named Bridget Blake Doocy. The couple welcomed their daughter on Wednesday, February 1, in northern Virginia, weighing 8 lbs., 1 oz., and measuring 21 inches.

Hillary, 32, and Peter, 35, are overjoyed with their new arrival, and Vaughn couldn’t help but joke about her “training for motherhood” through her career as a reporter, saying, “Baby Bridget – can you give us a comment? Are you hungry or gassy, or both?” As she adjusts to her new role, Vaughn shares that motherhood already feels like the best “assignment” she’s ever had.

Vaughn’s water broke while on her way to Capitol Hill, but she was prepared, having received support from Senator Barrasso, a former doctor. Thankfully, the labor didn’t require any calls to doctors, and everything went smoothly.

“I knew where all the offices were for senators who used to be doctors. Sen. Barrasso (Wyoming physician of the year) saw me the day before I went into labor and told me to reach out if I ever needed anything. Luckily, I didn’t have to call him to catch the baby!”

“I’ve only been a mom for one week but it’s already the best assignment I’ve ever had. She’s stolen the show!”

Doocy jokes about some of the name suggestions he’s gotten at the White House during his time at press briefings ahead of Bridget’s birth.

“During a briefing last month, the Press Secretary gave me permission to name the baby Karine and I joked we were considering naming the baby after the President: ‘Joe-sephine.’ But we can report here for the first time her name is Bridget Blake Doocy,” he tells PEOPLE.

The photos show the couple enjoying their newborn daughter, who is dressed in a pink onesie with her name embroidered on the front, paired with a matching pink bow. Also excited for the new addition is Steve Doocy, FOX & Friends host and new grandpa.

Congratulating his son on this new phase of life, Steve tells PEOPLE, “When I wrote a book on fatherhood, I highlighted a famous quote that, ‘There are three stages of a man’s life: he believes in Santa Claus, he doesn’t believe in Santa Claus, he is Santa Claus.’ Peter, congratulations, you just made it to fatherhood’s third round.”

“The day Peter was born at George Washington Hospital — not far from the White House, while his mother Kathy was having killer contractions — she turned and said to me, ‘When should we start a college fund?’ My wife was sounding like a Morgan Stanley commercial,” Steve laughs.

PHOTO: Hillary and Peter Doocy PHOTO: Hillary and Peter Doocy

“I replied ‘Why bother?’ unaware of the power of twenty years of compound interest. Instead, I said, ‘Pass me the PEOPLE magazine, I want to do the crossword.’ True story. And today PEOPLE magazine is announcing Peter’s baby, even though it seems more appropriate the announcement should come from the Department of Labor (and Delivery),” he shares.

The proud new grandpa is excited for the opportunity for him and wife Kathy to transition “from rule-makers to rule breakers.”

Hillary and Peter Doocy

“Our grandkid wants Dairy Queen for dinner — again? Let’s go!” he jokes. “Watching our children become good parents is absolutely heartwarming, Kathy and I are standing by to spoil the grandkids rotten. We promise we’ll never run out of hugs or candy.”

Steve also shares that the family had learned the baby’s name shortly before her delivery. “What they didn’t know before the delivery was that their baby Bridget would be born on February 1st, which happens to be St. Brigid’s Day! She was Ireland’s patron saint of babies — what are the odds? Legend has it Saint Brigid also miraculously changed water into beer. We’re hoping Bridget Doocy waits until she’s at least 21 to road-test that skill,” he jokes.