Fed's Wash Fed Chair Says Financial Conditions Hard to Label as Tightening

Fed Chair Kevin Warsh said on Thursday (local time) during a press conference that it is not easy to judge how restrictive monetary policy actually is. Warsh noted that "it is difficult to describe current financial conditions as tight," adding that colleagues in roundtable discussions also find it hard to use such language. However, he explained that this rate hike was "a step back from easing measures to adjust financial and credit conditions more in line with the ultimate goal."