Minneapolis Federal Reserve President Neel Kashkari on Tuesday said that while he is pleased with the progress so far, inflation is still too high and the U.S. central bank may still need to raise interest rates further.

"I'm not ready to say that we're done," Kashkari told the APi Group Global Controllers Conference in Minneapolis. But with recent positive signs on inflation, he said, "we can take a little bit more time to get some more data and before we decide whether we need to do more."

(Reporting by Ann Saphir; Editing by Paul Simao)