Two Rulings That Are Impossible to Reconcile (David Dayen, June 29, 2026, American Prospect)
You can make at least a colorable argument that a president should be allowed to have control over their subordinates, despite the damage it does to an agency structure set up by Congress. But when you add in the carve-out for the Federal Reserve, it quickly becomes totally ridiculous. There is no way to hold the two rulings together at once.
This is entirely accurate: as a constitutional matter, the Fed can not be independent.