U.S. President Donald Trump will name Larry Kudlow as his National Economic Council director, CNBC reported, citing unnamed sources.
Kudlow, who has served as an informal adviser to Trump, may be appointed to the position by March 15. He would replace Gary Cohn, who recently stepped down. Trump had recently told reporters that there was a "very good chance" Kudlow would be appointed to the position.
The CNBC television personality was one of several candidates Trump was considering as his new top economic adviser. Others included Peter Navarro, the chief White House trade adviser, former Federal Reserve governor Kevin Warsh, and Shahira Knight, the deputy director of the National Economic Council.
The appointment comes amid a series of high-ranking personnel changes in the administration. On March 13, Trump dismissed Secretary of State Rex Tillerson and intends to replace him with CIA Director Mike Pompeo.
The NEC director would also take over at a sensitive moment for the U.S. economy, with Trump's moves on international trade drawing threats of retaliation even from U.S. allies. And while economic growth remains steady, that expansion could lead the Fed to speed up the process of monetary policy normalization.
