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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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Trump Tees Off in Scotland Amid High-Stakes EU Trade Talks and Political Turmoil

 

U.S. President Donald Trump arrived in Scotland on Friday for a five-day visit blending golf, diplomacy, and controversy. The trip comes as the U.S. and European Union edge closer to a landmark trade deal that could reshape transatlantic commerce. Trump is set to meet British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen, with talks expected to focus on finalizing a framework agreement that may include a 15% tariff on EU goods.

While Trump described the potential deal as “the biggest trade agreement” of his administration, he acknowledged lingering “sticking points” with Brussels. His meeting with Starmer is being framed as a celebration of the U.S.-UK trade deal reached in May, though steel tariffs remain a contentious issue.

The visit is also shadowed by domestic political fallout over Trump’s ties to disgraced financier Jeffrey Epstein. Trump dismissed the renewed scrutiny, urging media to focus on other figures linked to Epstein. White House officials reportedly hope the controversy will fade while Trump is abroad.

Trump will spend the weekend at his Turnberry resort before heading to Aberdeen to inaugurate a new golf course named after his mother, Mary Anne MacLeod, a native of Scotland. Despite his familial ties, Trump faces a chilly reception: 70% of Scots hold an unfavorable view of him, and protests are planned in Edinburgh and Aberdeen.

The trip offers Trump a chance to reinforce international alliances and distract from domestic woes, but whether it results in concrete trade breakthroughs remains to be seen.

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