Can I limit which editors can issue a decision?

Yes! 

If your journal wants to limit which editors are able to issue a formal decision through Scholastica, you can do so when inviting them to become an editor and you can also do so when editing your Configuration Options later.

Editors who have the ability to issue a decision will see the "Make Decision" button on manuscripts to which they have access, as pictured in the image below:

Whereas editors to whom this ability has been restricted won't see the "Make Decision" button at all and won't be able to issue a decision through Scholastica, which in turn, changes the status of the paper:

Setting ability to issue a decision during editor invitation

When the admin editor for your journal has followed the steps to invite an editor and is on the "Manage editor viewing permissions" screen, they'll set the editor(s)'s manuscript viewing permissions and can then toggle on/off if the editor should be allowed to issue publication decisions on manuscripts to which they have access. Just check the box next to their name if you want to grant them that ability and uncheck it if you'd like to restrict that functionality for that editor.

Setting ability to issue a decision in the journal's Configuration Options

If you'd like to update an editor's ability to issue a decision after they've already been invited, the admin editor for your journal can do so by navigating to My Journals > Settings > Journal Settings > Configuration Options > Manuscript Access. Scroll down the page to find the "Manage which editors can issue publication decisions on manuscripts" header and make your desired updates. Then click "Update Journal" to save your changes.