Fed's Bostic: Once we get in range of neutral, will need to monitor data carefully

Atlanta Fed President Raphael Bostic crossed the wires in the last hour saying that the Fed would need to monitor the data carefully once they get in the "range of neutral."

Key quotes (via Reuters)

• He sees neutral rate as between 2.5 pct and 3.5 pct.
• Should 'proceed cautiously' with rate increases.
• Need to keep 'keen eye' on data to avoid raising rates too far or not far enough.
• Conditions warrant 'final steps' in adopting neutral rate policy.
• 'Neutral' is where we want to be, a tentative approach is appropriate.
• Watching some corners of credit market, but overall financial conditions healthy.