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5 Things to Know Today — September 22, 2026

  September 22, 2026 BoC hike odds reach a coin flip. Oil retreats from four-month highs. Trump's Belarus potash play draws fire. A new federal bill speeds up major projects — with strings attached. Here's what moves your money today. 1. BoC October Hike Is Now a Coin Flip The Bank of Canada next meets October 28 , and markets are evenly split on whether it will raise rates for the first time since cutting to 2.25%. The whiplash is largely imported: after the U.S. Federal Reserve hiked 25 basis points to 3.75–4.00% on September 16 in a unanimous 12-0 vote — the first American rate increase since July 2023 — market-implied odds of a matching BoC move jumped from below 10% to roughly 60% in two weeks, according to LSEG Data & Analytics. Before the BoC's September 2 hold, odds of a hold sat at 94%. The 175-basis-point gap between the BoC (2.25%) and the Fed (3.75–4.00%) is the widest since 2022, which puts direct downward pressure on the loonie and upward pressure on Ca...

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Elon Musk's Federal Worker Ultimatum: A New Chapter

In a bold move, Elon Musk has renewed his threat to fire federal workers who fail to justify their jobs, despite pushback from various agencies. This ultimatum comes after the U.S. Office of Personnel Management (OPM) directed agencies that responses to Musk's email were optional. Musk, undeterred, reiterated his stance on his social media platform, X, warning that failure to respond a second time would result in termination.

The directive, which required federal employees to list five accomplishments from the past week, sparked widespread confusion and resistance across the government. While some agencies, like the U.S. Treasury Department, complied with the request, others, including the Pentagon, advised their employees to ignore it. The OPM ultimately told agencies that their workers could disregard the email, further complicating the situation.

Musk's actions have opened new fissures within the Trump administration, raising questions about the limits of his authority. Despite the controversy, Musk remains steadfast in his mission to radically downsize the federal government through his Department of Government Efficiency (DOGE).

As the federal workforce grapples with this new reality, the impact of Musk's ultimatum on government operations and employee morale remains to be seen.


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