Dallas Federal Reserve Bank President Richard Fisher, one of the Fed's most ardent policy hawks, is a top candidate to be the next chancellor of the University of Texas, the Dallas Morning News said on Monday.

U.S. Admiral William McRaven, who is retiring this summer, is also a top contender, the paper said, citing an unidentified source.

Fisher, 65, faces mandatory retirement as head of the Dallas Fed by the spring of 2015. He is a voter this year on the Fed's policy-setting committee, and has been a strident advocate of ratcheting down the U.S. central bank's extraordinary economic stimulus measures.

It was not immediately clear how a chancellor role at the University of Texas would impact Fisher's plan to retire next year. The current chancellor, Francisco Cigarroa, has said he will remain in the post until his successor is named.

A Dallas Fed spokesman declined to comment.

Spokesmen for UT, McRaven and state health commissioner Kyle Janek, whom the paper also said is being considered for the role, did not immediately respond to requests for comment.