San Francisco chair Mary Daly comments on US economy

San Francisco Fed President Mary C. Daly gave an interview to CNBC television today in which she commented on the situation in the US:

• According to Daly, interest rates in the range of 4.75%-5.25% seem appropriate. Holding off future rate hike isn't an option for now;
• Daly will be 'rooting' for an effective slowdown in the economy and forecasts an unemployment rate of 4.5%-5%. She indicated that the Fed really wants to see a slowdown;
• Global conditions remain a drag on US economic growth. Daly signaled that even if and Fed holds rates, monetary policy is tightening as inflation falls;
• San Francisco Fed chief maintains September forecast of 5% as final interest rate level;
• Slower inflation and a stronger labor market are positive; the Fed needs even more such readings. Core CPI goods inflation and PPI data turned out to be positive, of course;        
• Consumers are preparing for a slowing economy and are taking a step back, which is a good start though still holding strong

US500 chart, M5 interval. The key US index is testing a key short-term resistance level near 3970 points today. Source: xStation5