noun: A government by holy persons. Also a place thus governed.
From Greek hagio- (holy) + -cracy (rule). Two synonyms of this term are hagiarchy and hierocracy. Also, literally speaking, hierarchy is the rule of the high priest. Earliest documented use: 1846.
“But money has assumed a more exalted place in the Fed’s hagiocracy in recent months.”
Alan Murray; Slow Money Growth Stirs Worry at Fed; The Wall Street Journal (New York); Jul 29, 1991.