Former Federal Reserve chair Janet Yellen is set to become US Treasury Secretary under appointment by president-elect Joe Biden, according to reports.
Mr Biden plans to select the 74-year-old economist when he takes to office as the 46th president of the United States in January, reported the Wall Street Journal.
If the nomination is approved by the Senate, she will become the first woman to hold the job - much like vice-president Kamala Harris.
Ms Yellen would replace incumbent Steve Mnuchin and lead Democrat Joe Biden's administration in its task to repair America's pandemic-hit economy. Last week Mr Biden said he had decided on his Treasury Secretary, though declined to say who it was.
Federal Reserve member Lael Brainard had been seen as a favourite for the role, having served as a Treasury official in the White House under Bill Clinton and been appointed by Barack Obama to the Fed in 2014.
Ms Brainard is the only Democrat on a Fed board otherwise mostly filled with appointments made by President Donald Trump, and could be a leading candidate for Fed chair when Jerome Powell's term expires in 2022.
Ms Yellen - who served as head of the Federal Reserve from 2014 to 2018 - is likely to attract broad support from both Wall Street and progressives in Washington DC.
Joe Biden also named Jake Sullivan - who was deputy assistant to President Obama - as his next national security adviser and Linda Thomas-Greenfield as the US ambassador to the United Nations.
Ms Thomas-Greenfield held a senior diplomatic post under Mr Obama and was senior policy adviser for Hillary Clinton's Democratic presidential candidate campaign in 2016.
Lawyer and Cuban immigrant Alejandro Mayorkas has been chosen to lead the Department of Homeland Security and help reverse Donald Trump's hardline immigration policies. Mr Mayorkas also served under President Obama, as deputy secretary.