Your Money Is Now Controlled by Someone You Didn’t Elect

May 26, 2025

We’re trained to believe elections shape the economy.

We vote in presidents, senators, and representatives who “manage” money via taxes, spending, and policy.

But what if that’s not who’s really in charge?

Right now, the most powerful force affecting your money isn’t Congress. It’s not the President. And it’s increasingly not the Federal Reserve either.

It’s the U.S. Treasury.

And the person running it? You didn’t elect them.

When the Treasury Acts Like a Central Bank

Since Janet Yellen’s departure in 2025, her successor has quietly continued the trend she helped start: using Treasury operations to influence markets in ways that used to be the Fed’s job.

Why? Because the Fed is cornered.

  • Can’t cut rates—too much inflation risk

  • Can’t hike more—markets might snap

  • Can’t expand balance sheet—optics are too political

So the Treasury is taking the wheel—with tools that move real liquidity, suppress interest rates, and shape investor behavior.

The Tools No One Talks About

  1. TGA Liquidity Flows
    The Treasury General Account isn’t just a bank account. It’s a massive lever. Topping it up or drawing it down injects or pulls liquidity from the system—no Fed vote required.

  2. Short-Term Debt Issuance Strategy
    By favoring short-term bills, the Treasury can effectively lower rates at the front end of the curve. That’s interest rate engineering—without a rate cut.

  3. Crowding Out Reverse Repo
    As the Fed’s reverse repo facility dries up, the Treasury’s issuance strategy is shaping the cost of money in the real economy—often more than the Fed’s overnight rate does.

Who’s Really in Charge of Your Financial Future?

Let’s be clear:

  • You elect your Congressman.

  • You vote for your President.

  • But you don’t vote for the Treasury Secretary.

  • You don’t vote for the Fed Chair either.

Yet these unelected officials now control:

  • How much liquidity is in the system

  • The direction of short-term interest rates

  • The value of your savings and debt

  • The signals sent to bond and equity markets

In short: your money.

📌 What You Can Do About It

1. Track Treasury auctions and TGA flows
This is where liquidity is made or destroyed. Don’t just follow Fed statements—follow money movements.

2. Avoid long-duration exposure without upside
When unelected officials control the short end of the curve, volatility at the long end gets brutal.

3. Stay in real assets and flexible vehicles
Hard assets and liquid strategies help you adjust when the rules change mid-game.

4. Understand political risk is now monetary risk
Who the President appoints matters more than ever. Watch nominations like you would a rate hike.

Bottom Line

This isn’t tinfoil territory. It’s policy by workaround.

And if you’re still watching the Fed for cues, you may be reading a script someone else already rewrote.

Because today, your money is controlled by someone you didn’t elect—and they just became the most powerful person in the U.S. economy.

Until next time,
Death of the Dollar