The court reversed a 1935 precedent restricting presidential powers to remove heads of independent agencies. However, it barred Trump from firing Fed Governor Lisa Cook, preserving the central bank's independence.

The Supreme Court has dealt a major blow to Trump’s revenge quests, as well as his attempt to control the Federal Reserve.

The latest ruling follows a legal battle that began in 2025 after Trump sought to dismiss Cook, becoming the first US president since the Federal Reserve's establishment in 1913…

The Supreme Court issued its ruling in the latest instance of President Donald Trump's war on the Federal Reserve.