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The Fed Decides Wednesday — Here's What It Means for Your Mortgage, the Loonie, and Your RRSP

  Monday, July 27, 2026 The U.S. Federal Reserve hands down its rate decision at 2 p.m. ET on July 29. For most Canadians it will feel like background noise. It isn't — here's the plain-language version of why it touches your mortgage, your cross-border spending, and whatever's sitting in your RRSP. The short version: Markets are pricing roughly a two-in-three chance the Fed holds its rate at 3.50%–3.75% on Wednesday. That's not the story. The story is that this is one of the least certain "sure thing" holds in years — and Chair Kevin Warsh's press conference at 2:30 p.m. ET could matter more than the decision itself. Why this meeting is different The Fed has held its benchmark rate steady at 3.50%–3.75% through every meeting so far in 2026. On paper, Wednesday should be more of the same. Under the hood, it's messier. Persistent inflation, running well above the Fed's 2% target for a fifth straight year, has kept a rate hike on the table. The oil-...
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Global Energy-Related CO2 Emissions Reach Unprecedented Levels in 2023

 

In a concerning development, global energy-related emissions of carbon dioxide (CO2) surged to a record high last year. The International Energy Agency (IEA) reported that these emissions rose by 410 million tonnes, representing a 1.1% increase, bringing the total to 37.4 billion tonnes.

Several factors contributed to this alarming trend:

  1. Fossil Fuel Use in Drought-Affected Regions: Countries grappling with droughts faced challenges in hydropower production. As a result, they turned to fossil fuels, exacerbating emissions.
  2. China’s Economic Reopening: China’s economy rebounded, leading to increased energy demand and subsequent emissions.
  3. Renewables and Electric Vehicles: While clean technologies like wind, solar, and electric vehicles helped curb emissions growth, other factors offset these gains.

Scientists emphasize that steep cuts in CO2 emissions are essential to meet global climate goals outlined in the Paris Agreement. Without rapid reductions, we risk runaway climate change. The challenge lies in swiftly transitioning away from fossil fuels and embracing sustainable alternatives.

Regional Trends

  • United States: Energy-related emissions fell by 4.1%, primarily driven by reductions in the electricity sector.
  • European Union: Emissions dropped by nearly nine per cent due to increased renewable power generation and decreased coal and gas power.
  • China: Despite contributing significantly to solar, wind, and electric vehicle additions, China’s emissions rose by 5.2% as it recovered from COVID-19-related lockdowns.

Globally, electric vehicles accounted for one in five new car sales in 2023, reaching 14 million—a remarkable 35% increase compared to 2022.

The urgency to address this crisis cannot be overstated. Our collective efforts must focus on sustainable energy sources and innovative solutions to combat climate change. 

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