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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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Canada Pushes to Lift All Trump-Era Tariffs in U.S. Trade Talks


Canada is intensifying efforts to eliminate all tariffs imposed by former U.S. President Donald Trump as part of ongoing trade negotiations with Washington. Ambassador Kirsten Hillman, who also serves as Canada’s chief trade negotiator, reaffirmed the country’s commitment to securing full tariff relief in a recent interview with *The Globe and Mail*.

The talks resumed after Canada agreed to withdraw its proposed Digital Services Tax (DST), a move that had previously stalled discussions. The DST, which targeted large U.S. tech firms, was labeled by Trump as a “blatant attack” on American interests. Its removal has reopened the door for a broader economic and security partnership between the two nations.

Prime Minister Mark Carney has set a July 21 deadline to finalize the deal. Canada is particularly focused on lifting steep levies, including:

  • 50% tariffs on steel and aluminum
  • 25% tariffs on automobiles
  • 10% tariffs on energy exports like oil and gas
  • 25% blanket tariffs on non-USMCA goods

Despite the high stakes, Hillman expressed confidence that Canada can secure a favorable outcome. “We believe we can get all the levies cancelled,” she said.


What’s Next?

With Trump’s self-imposed July 9 “Liberation Day” deadline looming for new tariff decisions, Canada is racing against the clock. The outcome of these talks could reshape North American trade dynamics and set the tone for future cross-border economic cooperation.



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