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,

A higher neutral rate could limit interest rates’ decline, Minneapolis Federal Reserve President Neel Kashkari said.

U.S. inflation witnessed an uptick in October but still remained in line with Wall Street estimates. According to the Bureau of Labor Statistics, the consumer price index (CPI) increased 0.2% on a seasonally adjusted basis in October,