President Trump is hoping to make a decision on a nominee for Federal Reserve chairman in the coming weeks, his Treasury Secretary said Thursday.

"This is something that the president is focused on, trying to make a decision in the next month," Steven Mnuchin said in an interview on CNBC. "Although we don't have a specific deadline."

Trump has reportedly narrowed down the possible nominees for the top economic policy-making spot in the world to a handful of candidates. One possibility is renominating current Janet Yellen, whose term runs out at the end of January.

Trump's economic adviser, former Goldman Sachs president Gary Cohn, is also thought to be in the running, as are former Fed governor Kevin Warsh and current Fed governor Jerome Powell.

When asked about a report that he personally favors Powell for the job, Mnuchin said Thursday that it would be inappropriate for him to comment on possible candidates.

Powell has a background in finance and worked in the George H.W. Bush Treasury Department, two attributes that could commend him to Trump. As a Fed governor since 2012, though, he has voted with Ben Bernanke and Yellen on their monetary policies, and supported the rulemakings for the new post-crisis regulations on banks that Trump seeks to roll back.