Axios

The Supreme Court on Monday cleared the way for President Trump to freely fire officials from the Federal Trade Commission and most — though not all — agencies that have long been politically independent.

Why it matters: It is a historic unraveling for agencies that have long been shielded from politics. The ruling will vastly expand presidential power and influence.

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.

Why it matters: The decision is the highest court's strongest endorsement yet of Federal Reserve independence, making it harder for Trump and future administrations to reshape the central bank through presidential firings.

The Supreme Court on Monday rejected an effort by President Trump to toss a $5 million civil verdict that found he sexually abused and defamed writer E. Jean Carroll.

Why it matters: It's another loss for Trump after years of trying to get the verdict thrown out. He has denied wrongdoing and alleged Carroll made false, politically motivated accusations.

This is a developing story.