Supreme Court Shields Fed, Expands Presidential Firing Power

A single SCOTUS term day produced four major rulings touching presidential power, central bank independence, election law, and digital privacy — each with direct US-citizen and market impact. The Fed ruling alone moves markets and shapes monetary policy independence for years.

The Morning Brief · June 30, 2026 · Based on reporting by Axios

The Supreme Court issued four major rulings Monday, reshaping presidential authority over federal agencies, election law, and digital privacy. The Court blocked President Trump from immediately removing Federal Reserve Governor Lisa Cook, carving out the central bank as an exception to expanded executive firing power. The decision limits presidential influence over the Fed's monetary policy decisions.

In a related ruling, the Court cleared Trump to dismiss officials at the FTC and most other independent agencies, overturning longstanding protections for those positions. In a third ruling, the Court upheld a Mississippi law allowing mailed ballots postmarked by Election Day to be counted within five business days after they arrive. The Court also ruled that geofence warrants require Fourth Amendment protections. Law enforcement agencies have used geofence data to identify suspects by location -- that tool is now significantly curtailed.

Sources

Axios — Supreme Court says Trump can't fire Fed governor Lisa Cook
The Supreme Court ruled Monday that President Trump could not immediately remove Federal Reserve governor Lisa Cook, a blockbuster ruling that limits the president's influence on the central bank.
Read at Axios →
Axios — Supreme Court rules Trump can fire independent agency heads, with key exception
The Supreme Court on Monday cleared the way for President Trump to freely fire officials from the FTC and most independent agencies, but carved out the Federal Reserve as an exception.
Read at Axios →
Axios — Supreme Court upholds grace period for late-arriving mail-in ballots
The Supreme Court upheld a Mississippi law Monday that allows mailed ballots to be counted if postmarked by Election Day and received within five business days.
Read at Axios →
Ars Technica — Supreme Court ruling guts government's use of geofence warrants
SCOTUS ruled that geofence warrants require Fourth Amendment protections, restricting a key law enforcement surveillance tool.
Read at Ars Technica →

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