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AIR MILES Is Gone. Here's What Actually Earns You Travel Now

  If you've been holding onto a Air Miles card waiting to redeem for a flight, the program you signed up for doesn't exist anymore — and the cards that replaced it aren't the best game in town. If you searched "best AIR MILES credit card" and landed here, there's something you need to know first: there is no such thing anymore. AIR MILES, the loyalty program that's been part of Canadian wallets since 1992, officially became BMO Blue Rewards on June 2, 2026. BMO had already stopped issuing new AIR MILES cards back in January, and every collector's Miles converted automatically into Blue Points at a rate of roughly 1 Air Mile to 15.79 Blue Points — no action needed, no lost value. That's good news if you're a longtime collector sitting on a pile of Miles. It's less good news if you were hoping to earn free flights that way going forward, because Blue Rewards was built to compete with PC Optimum and Scene+ — grocery, gas, and everyday spendi...
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Trump’s Rate Cut Push Revives Fears of Fiscal Dominance

 

                                 U.S. President Trump tours the Federal Reserve Board building in Washington, D.C.   

As U.S. debt levels soar and inflation remains stubbornly above target, former President Donald Trump’s renewed calls for aggressive interest rate cuts have reignited debate over “fiscal dominance”—a scenario where central banks prioritize government financing needs over inflation control.

Trump has urged the Federal Reserve to slash its benchmark rate by three percentage points, arguing that such a move could save the government $1 trillion annually in interest payments. This pressure comes amid a budget bill passed by the Republican-led Congress that adds trillions to the national debt.

Analysts warn that such political influence risks undermining the Fed’s independence. “Fiscal dominance is a concern,” said Nate Thooft of Manulife Investment Management, citing the potential for higher structural inflation and increased market volatility.

Historically, the U.S. experienced fiscal dominance during and after World War II, when the Fed kept rates low to support war borrowing. That era ended with the 1951 Treasury-Fed Accord, which restored central bank autonomy.

Today, signs of fiscal dominance may already be surfacing. Long-term Treasury yields remain elevated, and the dollar has weakened significantly, suggesting investors are demanding higher compensation for holding U.S. assets amid inflation risks.

While the Trump administration insists it respects the Fed’s independence, critics argue that the push for lower rates reflects a broader strategy to “inflate away” debt rather than reduce it through fiscal discipline.

The Fed’s next policy meeting in September will be closely watched, as markets weigh whether monetary policy will remain focused on inflation—or bend to political pressure.

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