(NewsNation) — President-elect Donald Trump is now considering Republican Sen. Bill Hagerty for Treasury Secretary, a source with knowledge of the transition confirms.

A freshman senator from Tennessee, Hagerty previously served as Ambassador to Japan in Trump’s first term.

Hagerty and Trump are known to get along well. In fact, Hagerty accompanied Trump to the SpaceX launch in Texas on Tuesday at the invitation of Elon Musk.

Hagerty is a former private equity investor. He invested in and served either as an executive or on the board of a range of companies.

From 2011-2014 he served as Commissioner of the Tennessee Department of Economic and Community Development.

He had originally wanted the Secretary of State position in this new administration.

Trump is also considering and is expected this week to interview former Federal Reserve Governor Kevin Warsh and Marc Rowan, co-founder and CEO of Apollo Global Management, a source has confirmed. Also under consideration is hedge fund manager Scott Bessent, who he has interviewed twice, NewsNation has been told.

BROWNSVILLE, TEXAS – NOVEMBER 19: U.S. President-elect Donald Trump speaks alongside Elon Musk (R) and Senate members including (L-R) Sen. Bill Hagerty (R-TN), Sen. Ted Cruz (R-TX) and Sen. Kevin Cramer (R-ND) before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket on November 19, 2024 in Brownsville, Texas. SpaceX’s billionaire owner, Elon Musk, a Trump confidante, has been tapped to lead the new Department of Government Efficiency alongside former presidential candidate Vivek Ramaswamy. (Photo by Brandon Bell/Getty Images)