Barkin: Consumer confidence important to economy

WASHINGTON, Feb 25 (Reuters) - The U.S. economy's reliance on consumer spending makes household confidence all the more important, Richmond Federal Reserve President Tom Barkin said on Tuesday.

"The economy is almost 70% consumer spending ... so it really matters whether consumers have confidence," said Barkin, who spoke after the release of a Conference Board report showing a drop in consumer views of the economy.