According to the Wall Street Journal, sources familiar with the matter revealed that Trump has told his advisers he wants to announce his nominee to replace Tim Cook on the Federal Reserve Board as soon as possible. Trump has indicated that he may nominate his economic advisor, Michelle Mills, to replace Cook. Other potential candidates Trump has discussed include David Malpass, former World Bank president and a close ally of the president who has criticized the Fed for not cutting interest rates. If Mills is nominated to replace Cook, Malpass could be nominated to fill another vacant Fed Board seat.