ECB's de Guindos: We will make a clear recommendation about reducing the number of capital buffers

*SUPREME COURT REFUSES TO LET TRUMP IMMEDIATELY OUST FED'S COOK baaaam The US Supreme Court is to hear arguments over Trump's bid to remove Federal Reserve Governor Cook. Supreme Court allows the Fed's Lisa Cook to stay in office for now as Trump pushes to fire her The Supreme Court on Wednesday deferred action on whether President Donald Trump can immediately fire Federal Reserve board member Lisa Cook, instead agreeing to hear oral arguments in the case early next year. The move means that Cook can remain in office while the consequential legal question is decided. The court will hear oral arguments in January, the brief order said, with a ruling likely before the end of June. Trump had asked the court to allow him to immediately fire Cook while litigation continued in lower courts. Under the Federal Reserve Act, presidents are restricted from removing governors unless it is “for cause,” meaning there is evidence of wrongdoing. Trump has said he fired Cook for cause, over allegations of mortgage fraud made by one of his political appointees, Federal Housing Finance Agency Director Bill Pulte. Cook has denied the allegations, and bank documents obtained by NBC News appear to contradict the fraud claim. Since taking office in January, Trump has pushed for lower interest rates and had criticized the Fed for failing to act on his wishes. While the president's aggressive use of executive power has often led to setbacks in lower courts, the Supreme Court has regularly granted the administration's emergency requests that allow his policies to move forward.

Fed's Goolsbee: It would pain me not to get jobs data in shutdown. lack of BLS data because of a shutdown will have an impact on the Fed. Fed's Goolsbee: I hope that recent higher inflation proves a 'one-and-done' event. FED'S GOOLSBEE: I DON'T WANT TO FRONTLOAD RATE CUTS ON THE EXPECTATION CURRENT INFLATION WILL BE TRANSITORY. ...

BoE’s Man: Have To Balance Inflation And Activity – BBGTV - Higher For Longer Inflation Risk Playing Out - Put More Weight On Inflation Persisting - Rates On Hold Appropriate BoE’s Mann: Policy Is Relatively Loose – BBGTV - There Is Drift In Inflation Expectations - Above Inflation Threshold For A Very Long Time - Supply Side Of Economy Continues To Be In Trouble BoE’s Mann: Financial Market Spillovers Can Dominate Policy – BBGTV - Tariff Landscape Continues To Shift - Domestic Component The More Important Issue In UK - Tax And Minimum Wage Rises Are Being Passed Through