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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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U.S. Strikes Decimate Iranian Nuclear Sites, Trump Warns of "Far Greater" Consequences

In a dramatic escalation of tensions in the Middle East, former U.S. President Donald Trump announced that American airstrikes had "completely and fully obliterated" three of Iran’s key nuclear facilities. The strikes targeted the Fordow, Natanz, and Isfahan sites—locations long suspected of housing uranium enrichment operations.

Speaking from the White House, Trump hailed the operation as a “spectacular military success,” emphasizing that all aircraft involved had returned safely. He warned Tehran that any retaliation would be met with even more severe consequences, stating, “There will either be peace or there will be tragedy for Iran”.

Iran’s government confirmed the attacks but insisted its nuclear program would continue. Officials reported no immediate signs of radioactive contamination and accused the U.S. of launching a “dangerous war” in coordination with Israel, which has been engaged in its own military campaign against Iran for over a week.

The international community has responded with alarm. The United Nations is convening an emergency session, and European leaders have called for restraint amid fears of a broader regional conflict.

This marks the first direct U.S. military strike on Iranian soil in the context of its nuclear program—a move that could reshape the geopolitical landscape in the region.

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