[GenerWork]

>Peter Conti-Brown, a professor of financial regulation at the University of Pennsylvania, added, “I’ll say as a legal scholar and as a historian I think that differentiation is hocus pocus.”

I'm willing to bet that the "hocus pocus" is the Court not wanting financial markets to get upended by giving the president the ability to fire Fed governors even if this is contradictory to previous decisions of theirs.

[rayiner]

The differentiation is because the U.S. had a central bank in 1791, almost a century before any independent agencies were created.