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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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Tragedy in Midtown: Investigators Probe Motive Behind Manhattan Office Tower Shooting

 

Authorities are searching for answers after a deadly mass shooting rocked a Midtown Manhattan office tower on Monday evening, leaving five people dead, including a New York Police Department officer and the gunman himself.

The shooter, identified as Shane Tamura, 27, of Las Vegas, entered the lobby of the skyscraper at 345 Park Avenue, which houses high-profile tenants like the NFL headquarters, Blackstone, and KPMG, and opened fire with an M4 carbine, a military-style rifle. After killing four individuals — including Officer Didarul Islam, a 36-year-old immigrant from Bangladesh — Tamura took his own life on the 33rd floor.

Key Details:

  • Tamura had a documented history of mental illness and drove cross-country from Las Vegas to New York over three days.
  • A note found at the scene suggests Tamura may have linked his mental health struggles to CTE (chronic traumatic encephalopathy), a brain condition associated with repeated head trauma, possibly from playing football in his youth.
  • The motive remains unclear, but investigators are examining whether Tamura intentionally targeted the NFL offices due to his concerns about CTE.
  • A loaded revolver, prescription medications, and a backpack were recovered from Tamura’s vehicle parked outside the building.

Mayor Eric Adams called the slain officer a “true blue hero,” and the city is mourning the loss while grappling with the senseless violence. One additional victim remains hospitalized in critical condition.

As investigators comb through Tamura’s background and the contents of the note, questions linger about how and why this tragedy unfolded in the heart of New York’s business district.


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