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

President-elect Donald Trump's administration is considering 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, told a luncheon in Michigan that Kudlow would likely be the next chair of the council, a source who was in attendance told Business Insider.The Wall Street Journal, citing sources familiar with the deliberations, reported that a final decision has not been made.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 served was associate director for economics within theOffice of Management and Budget in the Reagan administration and was a longtime CNBC host. He mulled a 2016 run for Senate in Connecticut, where he would have challenged incumbent Democratic Sen. Richard Blumenthal.Kudlow was an early advocate for Trump, saying that his proposals to lower taxes would be beneficial to the US economy. Later in the campaign, Kudlow broke with Trump on his more protectionist tradeKudlow has beenan advocate for the Trans-Pacific Partnershipand anti-immigration policies.The Council of Economic Advisers is made up of three economists and conducts research and provides the president with economic data in order to make policy. It also publishes the annual Economic Report of the President.The chair of the councilmustbe confirmed by the Senate.SEE ALSO:A conspiracy theory is going around about someone dumping Lockheed Martin stock right before Trump's tweet caused it to tankJoin the conversation about this storyNOW WATCH: 'We'll get your taxes down': Trump greets diners after ditching the press for a steak dinner
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