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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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Moscow Warns U.S. Over Ukraine’s Use of Long-Range Weapons

 

In a significant escalation of tensions, Moscow has issued a stern warning to the United States following President Joe Biden’s authorization for Ukraine to use long-range ATACMS missiles to strike targets inside Russia. This decision marks a notable shift in U.S. policy, allowing Ukraine to extend its military reach beyond its borders.

The move comes amid ongoing conflict and heightened geopolitical tensions, with Russia expressing grave concerns over what it perceives as a direct threat to its national security. Russian officials have cautioned that this authorization could lead to a broader conflict, potentially drawing NATO into a more direct confrontation with Russia.

The U.S. decision follows extensive lobbying by Ukrainian officials, who argue that the ability to target strategic locations within Russia is crucial for their defense efforts. The authorization is seen as a response to recent developments, including North Korea’s reported support for Russia by sending troops to the region.

Ukrainian President Volodymyr Zelenskyy has remained measured in his public statements, emphasizing that actions will speak louder than words. Meanwhile, the international community watches closely, concerned about the potential for further escalation in an already volatile situation.


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