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5 Things to Know Today: Warsh Rattles Markets as Gold Plunges and TSX Slides

  Sunday, August 30, 2026 Fed Chair Kevin Warsh's first Jackson Hole keynote as chair on Friday didn't say the words "rate hike" — but markets heard them anyway. Gold had its worst day in weeks, the TSX closed out the week almost 300 points lower, and the loonie slipped, all while Canada's own economic story (a surprisingly strong GDP print) got drowned out. Here's what actually matters for your money heading into a week that includes the Bank of Canada's rate decision, a gas tax deadline, and new retaliatory tariffs. 1. Fed Chair Warsh's hawkish tone just moved the goalposts Speaking at Jackson Hole on Friday, Warsh stopped short of promising anything, but he said the Fed will "have work to do" if inflation doesn't clearly head back to 2% — language markets read as an unusually direct nod toward a possible hike rather than a cut. By the end of the day, market-implied odds of a September Fed rate increase had jumped to somewhere in the 50...
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Israel’s Expanding Offensive in Central Rafah: A Closer Look

 

The Israeli military has officially confirmed that its forces are operating in central parts of Rafah as part of an expanding offensive in the southern Gaza city. This development comes after Israel launched a ground assault into Rafah on May 6, triggering an exodus of approximately 1 million Palestinians from the city and disrupting U.N. humanitarian operations in the area.

Key Points:

  1. Citywide Operations: The Israeli military statement suggests that its forces have been operating in most parts of Rafah, including both eastern districts and areas close to the border with Egypt. Israeli troops seized the Rafah crossing into Egypt on the first day of the offensive and have since claimed control over the Philadelphi Corridor, a road running along the Gaza-Egypt border on the Gazan side.
  2. Recent Developments: Earlier this week, Israeli troops also moved into Rafah’s western district of Tel al-Sultan, where heavy clashes with Hamas fighters have been reported by witnesses.
  3. Hamas Presence: The offensive aims to uproot Hamas fighters, following the group’s October 7 attack on southern Israel. In central Rafah, Israeli troops have uncovered Hamas rocket launchers, tunnels, and dismantled a weapons storage facility.
  4. Humanitarian Impact: The exodus of Palestinians from Rafah has led to a scattered population across southern and central Gaza. Most of them now live in squalid tent camps, with up to around 300,000 people believed to remain in the area. Some still reside in the central urban parts of Rafah, while others have sought refuge in rural areas near the coast, which have also been targeted by Israeli strikes and shelling.

Despite the ongoing offensive, U.S. President Joe Biden has emphasized that Israel has not crossed the “red lines” of a full-fledged invasion that he had urged them against. The situation remains tense, and humanitarian organizations continue to grapple with the challenges posed by the conflict.



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