More from Fed's Barkin. Watching consumers most closely as are biggest part of economy

From Richmond Fed Pres. Barkin:

• Watching consumers most closely, as big as part of economy.
• Worry if close to a moment where consumers decide to pull back, so far has not happened.
• Biggest thing affect consumer spending is whether they have a job, second is confidence, there is wealth effect..
• Equity market correction isn't what leads to consumers sending pullback
• People are pulling back on air travel, but not on everyday spending

Comments from Barkin are positive and suggest that the Fed has time