The headline numbers from the October consumer price report show that "inflation is headed in the right direction," Federal Reserve Bank of Minneapolis President Neel Kashkari said on Wednesday. Speaking in an interview with Bloomberg Television,

Minneapolis Federal Reserve Bank President Neel Kashkari said he feels U.S. monetary policy is currently "modestly restrictive," with short-term borrowing costs continuing to slow inflation and the economy,

After years of relatively high interest rates to bring down post-pandemic inflation, the Federal Reserve began to cut rates earlier this year, dropping another 0.25% at the central bank's meeting on November 7,