Treasury sell-off continues after divided Fed holds interest rates steady - CNBC

The Federal Reserve's decision to hold rates steady amid deep internal divisions has triggered a Treasury sell-off that reveals the central bank's unaccountable power to manipulate markets at will. Investors are fleeing bonds as yields rise, punishing the Fed's hesitation and exposing how its interventions create uncertainty rather than stability. This matters because it inflates borrowing costs for families and businesses while shielding the government from the discipline of genuine fiscal restraint. The Constitution assigns Congress, not an insulated bureaucracy, authority over currency under Article I, yet the Fed operates as a fourth branch that distorts free markets and erodes individual liberty through artificial rate controls. Limited government requires ending this monopoly on monetary policy, which crowds out private enterprise and fuels boom-bust cycles. Federalism would thrive if states and citizens could pursue sound money alternatives instead of depending on Washington edicts. Markets will keep rebelling until Congress reclaims its constitutional duty over the currency.