Larry Kudlow is being considered to chair the Council of Economic Advisers

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YouTube/CNN

President-elect Donald Trump’s administration is planning to nominate political commentator and economic analyst Larry Kudlow to chair the Council of Economic Advisers.

Stephen Moore, a conservative economist who advised Trump’s presidential campaign, said at a luncheon in Michigan that Trump was set to choose Kudlow to be next chair of the council, a source who was in attendance told Business Insider.

In a follow-up conversation with Business Insider, Moore clarified that Kudlow is the leading candidate for the job but that a final decision has not been made. Moore also said the selection would come in “the next week or so.”

“He’s a fantastic pick for the role, a great pick,” Moore told Business Insider of Kudlow.

Moore also said that Kudlow was “a great communicator” and would be “an excellent salesman” for the tax plan that Moore and Kudlow helped design for the Trump team.

“He’s got all the connections on Capitol Hill, he knows the plan well, and I don’t know anyone who doesn’t like Larry Kudlow,” Moore said.

The council sits within the executive office and advises the president on economic policy.

Trump’s transition team and Kudlow’s office didn’t immediately respond to requests for comment.

Kudlow was associate director for economics within the Office of Management and Budget in the Reagan administration and a longtime CNBC host. He mulled a 2016 run for the US Senate, in which he would have challenged incumbent Democratic Sen. Richard Blumenthal of Connecticut.

Kudlow was an early advocate for Trump, saying his proposals to lower taxes would benefit the US economy. Later in the campaign, Kudlow broke with Trump on his more protectionist trade policies – Kudlow has advocated the Trans-Pacific Partnership – and anti-immigration policies.

The Council of Economic Advisers is made up of three economists and conducts research to provide the president with economic data to make policy. It also publishes the annual Economic Report of the President.

The chair of the council must be confirmed by the Senate.