(Reuters) - 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, but not by a lot.

"The U.S. economy is in a good place," Kashkari said at a Yahoo! Finance event.

"In my judgment we are still at a modestly contractionary stance, but ultimately the economy will guide us, in terms of how far we are needing to go" in cutting interest rates further.