The Folding@Home FAHControl RPM package currently available fahcontrol-7.3.6-1.noarch.rpm (get here) formally depends on a Python 2.6.x interpreter but Fedora repositories distribute Python 2.7 only. You can use your system’s Python 2.7 interpreter by just following the Terminal installation for RedHat / CentOS / Fedora.

During subsequent yum transactions you might get the following error
[... yum trying to do its thing] Running transaction check ERROR with transaction check vs depsolve: python(abi) = 2.6 is needed by (installed) fahcontrol-7.3.6-1.noarch ** Found 1 pre-existing rpmdb problem(s), 'yum check' output follows: fahcontrol-7.3.6-1.noarch has missing requires of python(abi) = ('0', '2.6', None) Your transaction was saved, rerun it with: yum load-transaction /tmp/yum_save_tx.2013-11-11.03-12.mbks89.yumtx

The solution is to temporally uninstall the FAHControl package:
$ sudo yum -y remove fahcontrol

Running the original yum transaction command, for example:
$ sudo yum update

Then reinstalling again with rpm program:
$ sudo rpm -i --nodeps <path to fahcontrol-7.3.6-1.noarch.rpm>

There’s no need to reinstall FAHClient since the problem is with FAHControl only.