The Russian, who has been in charge of the Tigers since the summer, refused to criticise his players following the defeat, insisting that they matched Wolves for much of the contest.
"I think, in my opinion, we played against the best team in the league," the Express & Star quotes Slutsky as saying. "I researched all the teams in the Championship and Wolves for me, in this moment, are the best team.
"In the second half we played much better and had two clear chances. I very disappointed with the result but I'm proud because we've been a team for a very short time and we can play minimum on the same level as the best team in the Championship.
"I think we showed the same level as Wolves. I've watched all three [Wolves] matches and they never concede. We scored twice and had a lot more chances. We deserved a result, a draw would be fair in this situation."
Slutsky's first defeat as Hull boss leaves the club in seventh place in the Championship with four points while Wolves are joint top on nine.