The US Supreme Court ruled that those in leadership positions at various independent agencies including the Federal Trade Commission serve at the pleasure of the US President. The President can, therefore, remove them at will.
Not so the members of the Board of Governors of the US Federal Reserve. They can be removed only for "cause" meaning the President must prove that they have done something that deserves removal. The court did not define what "cause" meant but indicated the threshold would have to pretty high.
Why the different treatment?
Well, the Supreme Court contends that the many independent agencies are all part of the executive- they exist to enforce various statutes. As a result, they come under the authority of the President. And the President has the right to decide who he wants to work with. Period.
As for the Fed, it has been historically conceived as an agency that is independent of the executive. Without such independence, it cannot execute its mandate effectively.
President Trump had fired Governor Lisa Cook on charges of mortgage fraud. The US Supreme Court is saying those charges have to be proved and Cook must have the right to defend herself before she can be removed.
In short, there is only one truly independent agency and that is the US Federal Reserve. The Fed is not an extended arm of the Treasury. All the other agencies cannot claim such independence.
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