President Trump is moving quickly to replace outgoing Federal Reserve governor Adriana Kugler, who steps down Friday, with a pick that could later be elevated to Fed Chair.

According to Bloomberg reports, Trump advisers are pushing Trump to nominate a temporary Fed Governor to fill the open seat as Kugler's term was set to end January 31, 2026 — (4 FOMC meetings left ). A short-term governor would likely to be someone who is already in the government and who has previously been confirmed by the Senate for a federal job, according to people who spoke to Bloomberg regarding the discussions. The nominee will need to clear Senate confirmation, a vetting process that has traditionally taken months, but could be expedited if Trump pressures lawmakers to quickly fill the seat.

Trump could end up reappointing whomever he fills to the Fed Governor position for a full 14-year term with the possibility that whoever he puts into the board could be elevated to Federal Reserve chair.

Trump's shortlist, which includes the "2 Kevins" names by Trump during his CNBC interview Tuesday morning → Kevin Warsh & Kevin Hassett. Other potential nominees reported to be on the shortlist includes Judy Shelton and 30-year-old hedge fund manager James Fishback

Trump shortlist leading contenders are

• Kevin Hassett: Former Director of the National Economic Council and Chair of the Council of Economic Advisers under Trump.

• Kevin Warsh: Served as a Federal Reserve Governor from 2006 to 2011, playing a significant role during the 2008 financial crisis. Warsh has experience in both government and Wall Street, making him a notable candidate for the position.

• Judy Shelton: An economist known for her advocacy of returning to the gold standard and her critical views of the Federal Reserve's independence. Shelton was previously nominated for the Fed Board in 2019, but her nomination was stalled in the Senate

According to reports, Fishbach spoke with Trump on Monday morning, reported in discussing making his case to fill Fed governor Adriana Kugler's slot for a short-term position for the remaining months left in her term. Fishbach was asked according to reports if offered to fill the open Fed Board seat, would he take it, to which he responded that he would accept if asked by Trump