Federal Reserve Bank of Cleveland President Beth M. Hammack called for keeping interest rates steady for "quite some time" during recent remarks, expressing caution about both inflation risks and the uncertain economic effects of ongoing geopolitical tensions.

Hammack, one of the Fed's 12 regional bank presidents, indicated it is premature to assess the full economic impact of conflicts involving Iran, suggesting policymakers need more time to evaluate how international developments might affect the U.S. economy.

The Cleveland Fed chief's comments come as Federal Reserve officials continue to weigh the appropriate path for monetary policy amid persistent concerns about inflation returning to the central bank's 2% target. Her stance suggests support for maintaining the current federal funds rate rather than pursuing additional rate cuts in the near term.

Regional Fed presidents play important roles in monetary policy discussions, though voting rights on the Federal Open Market Committee rotate among them. Hammack's position adds to the ongoing debate within the Fed about the timing and pace of future policy adjustments.

The Federal Reserve has been balancing efforts to control inflation while supporting economic growth, with officials closely monitoring various economic indicators and global developments that could influence their policy decisions.