Outgoing Fedearl Reserve Chairman Alan Greenspan

NEW YORK (CNN/Money) - The Bush administration will nominate Alan Greenspan's successor as head the Federal Reserve in early to mid-November, according to a report Wednesday.

Citing "an administration official with direct knowledge of the search process," the USA Today said a mid-November announcement means lawmakers will have to act quickly to confirm the nominee before the Senate adjourns for the year.

Greenspan's term expires on Jan. 31.

Candidates regularly mentioned for the post include Glenn Hubbard, a past adviser to Bush; Harvard economist Martin Feldstein; Fed governor-turned-White House adviser Ben Bernanke; and Fed governor Donald Kohn.

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