(Bloomberg) -- Federal Reserve Bank of Cleveland President Beth Hammack ruled out a May interest-rate cut but said the central bank could move as early as June if it has clear evidence of the economy’s direction.

“If we have clear and convincing data by June, then I think you’ll see the committee move if we know which way is the right way to move at that point in time,” Hammack said Thursday during an interview with CNBC when asked specifically about June.

The probability investors assign to a June rate cut through interest-rate swaps briefly rose to about 65% before reversing some of that move.

Hammack reiterated she’s not operating with a “base case” of the most likely outcome for the economy. She said it’s unlikely officials will have enough information to take action by their May meeting, but said they could move in following meetings once there is more evidence on the likely path for growth and inflation.

Fed officials, including Hammack, have signaled they intend to keep interest rates steady until they know more about President Donald Trump’s policies for immigration, trade and regulation. Several policymakers have pointed to high levels of uncertainty over how the policies will be implemented and how other countries and companies will respond. Officials will meet next May 6-7.

Hammack repeated her view that officials need to be patient to be sure they’re moving in the right direction. She also said the Fed has shown it can move quickly once there is clarity about the direction they should be heading.

“To me, this is a good moment for us to take our time and make sure we’re moving in the right direction,” she said. “You’ve seen that this is not a Fed that’s afraid of moving quickly if we need to move quickly.”

(Updates with additional Hammack comments and market reaction from third paragraph.)