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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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Trump Administration Initiates Major Federal Workforce Reduction


In a significant move, the Trump administration has issued a memo directing federal agencies to develop plans for large-scale layoffs. This directive is part of President Donald Trump's broader effort to downsize the federal workforce, which he has often described as bloated and inefficient.

The memo, distributed by the Office of Management and Budget (OMB) and the Office of Personnel Management (OPM), requires agencies to submit their plans for a reduction in force (RIF) by March 13. These plans will not only lay off employees but also eliminate their positions altogether, potentially leading to extensive changes in how the government functions.

Russell Vought, director of the OMB, emphasized the need for a more efficient government, stating, "The federal government is costly, inefficient, and deeply in debt. At the same time, it is not producing results for the American public".

The memo comes as Trump prepares for the first Cabinet meeting of his second term, with Elon Musk, who oversees the Department of Government Efficiency, playing a key advisory role. The administration's goal is to streamline operations and improve productivity, even if it means significant workforce reductions.

This move has already sparked protests among federal workers, who fear the impact of these layoffs on their livelihoods and the overall functioning of government services. The coming weeks will reveal how these plans unfold and their broader implications for the federal workforce and public services.






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