MNI BRIEF: Fed Policy Is 'Clearly Restrictive' - Barkin

The Federal Reserve's monetary policy is certainly restrictive but it's difficult to put an actual point level on just how much, Richmond Fed President Tom Barkin told an MNI webcast on Tuesday.

"How do you tell whether policy is restrictive? You look at what is happening in the economy," Barkin said. Talking to business leaders across the economy, commercial real estate lenders, residential lenders, and manufacturing companies all note that policy is currently restrictive, "so I guess it must be restrictive," he added. That still doesn't offer an indication of where policy would shift to being neutral or accommodative, he said, something that would become apparent on further interaction with the economy at a later stage in the policy cycle. (See: MNI BRIEF: US Inflation Falling, But No Victory Just Yet - Fed's Barkin)