President-elect Donald Trump is considering appointing Kevin Warsh as Treasury secretary and ultimately ousting him as chairman of the Federal Reserve, according to a report from the Wall Street Journal.

Warsh, himself a former Fed governor, would move to the central bank after current Chairman Jerome Powell’s term ends in 2026, the Journal said, citing sources familiar with Trump’s thinking.

The speculation comes with the Treasury Department being the last major Cabinet position for which Trump has not yet signaled his intent.

According to several reports, Warsh is one of the finalists, along with Marc Rowan, CEO of Apollo Global Management, and hedge fund manager Scott Bessent. One possible scenario would be one in which Bessent would first head the National Economic Council and then move to the Treasury Department after Warsh takes over at the Fed.

However, Trump is known for his tendency to change his mind, and the report notes that nothing has been finalized yet.

“President-elect Trump is making decisions about who will serve in his second administration,” Trump transition spokeswoman Karoline Leavitt said in a statement. “These decisions will be announced by him as they are made.”

Read the full Wall Street Journal story here.