WASHINGTON, June 28 (Reuters) - Tightened financial conditions due to the rising value of the dollar and other factors have amounted to the equivalent of several rates hikes since 2014, Federal Reserve Governor Jerome Powell said on Tuesday.

"What matters for the economy is overall financial conditions. The dollar is higher...Credit spreads are wider. That adds up to a modest tightening," Powell said.

(Reporting by Howard Schneider; Editing by Diane Craft)