WASHINGTON — In a monumental pair of rulings that fundamentally alters the balance of power in Washington, the U.S. Supreme Court has dramatically expanded the executive authority of the presidency. The conservative majority cleared the way for President Donald Trump to fire the heads of independent regulatory agencies at will, completely dismantling nearly a century of legal precedent.
However, in a tense $5\text{–}4$ carve-out, the high court handed the White House a significant setback by blocking Trump’s immediate attempt to terminate Federal Reserve Governor Lisa Cook, forcefully reinforcing the central bank’s independence from political interference.