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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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Toronto Transit Workers Face Friday Strike Deadline

 

Toronto transit workers are on the brink of a strike unless negotiations see significant changes on key contract issues. The looming deadline, set for Friday just past midnight, could trigger the first TTC strike since 2008.

Core Issues and Impasse

ATU Local 113 president Marvin Alfred stated that negotiations have reached an “impasse.” The union’s nearly 12,000 members are moving toward a strike unless core issues—such as wages, benefits, and job security—are addressed. The union seeks protections against outsourcing jobs to third parties and cross-boundary service transfers to other Greater Toronto Area transit operators.

Optimism and Challenges

TTC spokesperson Stuart Green remains optimistic that a deal can be worked out before the deadline. Negotiations are likely to go down to the wire, balancing the challenging work of union members with affordability for the City of Toronto. TTC chair Jamaal Myers echoes this optimism, emphasizing the need for contingency plans.

Impact on Commuters

A strike could disrupt travel plans for tens of thousands of commuters who rely on TTC subways, streetcars, and buses. While both sides continue bargaining, it’s essential for commuters to have a backup plan in place.



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