White House reportedly considering Mester for Fed vice chair

  • Citing people familiar with the matter, The Wall Street Journal said the White House is thinking about nominating Mester for the role.
  • Mester took over as president of the Cleveland Fed in June 2014.
  • CNBC learned from a source last month that San Francisco Fed President John Williams was also being considered for the post.
Loretta Mester, president and chief executive officer of the Federal Reserve Bank of Cleveland.
David Paul Morris | Bloomberg | Getty Images
Loretta Mester, president and chief executive officer of the Federal Reserve Bank of Cleveland.

Cleveland Federal Reserve President Loretta Mester is in the running to become the central bank's vice chair, The Wall Street Journal reported Tuesday.

Citing people familiar with the matter, the newspaper said the White House is thinking about nominating Mester for the role. Mester is known as one of the more hawkish members in the Fed.

Mester took over as president of the Cleveland Fed in June 2014. Prior to that she spent more than 30 years working for the Philadelphia Fed.

CNBC learned from a source last month that San Francisco Fed President John Williams was also being considered for the post.

Tuesday's report comes after Jerome Powell was confirmed as Fed chair last month, replacing Janet Yellen.

Click here to read the Journal's full report.