Fed's Musalem: wants to see monthly inflation rates under 0.2% readings

Sees Higher Probability That Inflation Will Remain Above Target - Gradual Rate Increases Are Less Costly Than More 'Abrupt' Rate Changes - Underlying Inflation Is Likely Between 2.5% And 3% - Wants To See Monthly Inflation Readings Below 0.2% - Labour Market Is Not A Source Of Inflation - Very Open-Minded About Fed Task Forces