Concerns over trangressing the financial laws saw Newcastle fail to make a January market signing for the third consecutive season.
Howe said on Tuesday: "I could get myself in trouble. I’m just trying to think how I can diplomatically answer that. Yeah, of course, it’s impacting us; it’s been impacting us for a number of years.
"We’ve had one active window out of . . . I’m not sure of the actual number. But it continues to impact us, but we have to follow the rules; otherwise, points deductions and other sanctions are placed upon us, which will have really detrimental effects on what we’re doing.
"So we’re trying to fall in line and be progressive and move forward, and that’s an ongoing challenge for us."
Howe added: "We're under restrictions. We're working within the financial restrictions that we have.
"During this window, I think I've always said there's a willingness to spend what we can. But of course, we have to work within the PSR limits. And that's what we're trying to do. But then you have to make a decision with what room you have, whether you can find the right player that fits.
"As I said, we have a short-term need. We have a need for someone to come in and play now, especially defensively. But for those players, it costs money. And there's a level attached to their ability that we can't reach at the moment."