The Federal Reserve Bank of Cleveland President Loretta Mester said in an interview with The Wall Street Journal on Friday that the U.S. economy is solid for the interest rate hike despite the recent turbulences on the markets.

"I want to take the time I have between now and the September meeting to evaluate all the economic information that's come in, including recent volatility in markets and the reasons behind that. But it hasn't so far changed my basic outlook that the U.S. economy is solid and it could support an increase in interest rates," she said.

Mester is not a voting member of the Federal Open Market Committee this year.