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5 Things to Know Today: Fed Decision Looms, TSX Slides, Gas Prices Climb (Sept 16)

  Wednesday, September 16, 2026 The Fed's biggest decision in years lands at 2 p.m. ET today, the TSX and loonie are both licking their wounds, and drivers are paying more at the pump despite the gas tax holiday. Here's what's moving your money this morning. 1. The Fed Decides on Rates Today — and a Hike Looks All but Certain The Federal Reserve announces its rate decision at 2 p.m. ET, with Chair Kevin Warsh's press conference to follow at 2:30 p.m. Markets have priced in over 90% odds of a 25-basis-point hike, which would lift the target range to 3.75%–4.00% from 3.50%–3.75%, where it's sat since December. It would be the first hike of this cycle, driven by inflation still running above target even as the labour market holds up. What it means for you: A Fed hike widens the gap with the Bank of Canada's 2.25% rate, which tends to pressure the loonie lower and nudge Canadian bond yields — and by extension fixed mortgage pricing — upward. Watch for the reaction ...
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Trade Tensions Escalate as Trump Maintains Tariffs Amid Ford's Policy Shift

 

In a recent development, U.S. President Donald Trump has decided to keep the 25% tariffs on steel and aluminum imports intact, despite Ontario Premier Doug Ford's decision to lift the electricity tax on U.S.-bound energy. The tariffs, initially imposed as part of a broader trade strategy, have been a point of contention between the two nations.

Ford's move to remove the electricity tax was seen as an olive branch to ease trade tensions. However, Trump's administration has opted to maintain the tariffs, citing the need to protect domestic industries. This decision has sparked mixed reactions, with some applauding the commitment to American manufacturing, while others criticize the potential strain on U.S.-Canada relations.

The ongoing trade dispute underscores the complexities of international economic policies and their far-reaching implications. As both leaders stand firm on their respective stances, the path to resolution remains uncertain.

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