Fed's Bostic: Firms are telling the Fed that policy is restrictive

WASHINGTON, Nov 12 (Reuters) - Atlanta Federal Reserve President Raphael Bostic said he considers current monetary policy to be restrictive in part because of what businesses are telling him.

Booming stock markets and tight credit spreads may indicate looser financial conditions, but "we talk to a lot of, say, housing firms," Bostic said. "They tell us ... that the housing sector ... has been in quite a difficult space for quite some time. That cost of financing contributes to that. Others who are more finance dependent also tell us the same thing."