President-elect Donald Trump’s advisers are considering how they will reshape the leadership of the Federal Reserve including elevating Fed Governor Michelle Bowman to be the central bank’s next vice chair for supervision, according to people familiar with the matter.

The revelations come after Michael Barr announced Monday that he will step down from the vice chair role while retaining his seat on the Fed’s Board of Governors. Trump’s advisers have also begun drawing up a short-list of potential replacements for Chair Jerome Powell, whose term as chair ends in May 2026, and are closely watching current Fed officials’ interest-rate commentary as they add and subtract names from consideration.