The Federal Reserve Bank of Cleveland President Loretta Mester said in Paris on Monday that the Fed's bond-buying programme and low interest rate will push inflation toward the Fed's 2% target.

She noted that outlook for the U.S. economy is positive. If the U.S. economy faces problems in the future, the Fed could use "unconventional tools" again, Mester said.

The Cleveland Fed president also said that quantitative easing in the U.S. have shown "some bubble-like things".