First IIS site set-up on localhost

I have IIS 7.0 running on a Windows Server 2008 R2 Standard.

I tried to Connect to Server with a server name of localhost.

It then prompts me for my login credentials. I type in the username and password that I use to log in to this Windows machine, but I get a message

Could not connect to the specified computer. Details: Unable to connect to the remote server

Why would it not be able to connect to the localhost? 开发者_运维问答 Does my account need to have Windows Administrator privileges?

Need to have local administrator privileges, not just remote administrator.