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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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Wall Street Slips Ahead of Walmart Earnings and Jackson Hole Summit

 

US stocks edged lower Thursday morning as investors braced for a fresh batch of corporate results and the start of the Federal Reserve’s high-profile Jackson Hole gathering.

The Dow Jones Industrial Average fell roughly 0.4%, the S&P 500 dipped 0.2%, and the Nasdaq 100 was little changed as selling in Big Tech eased after recent sharp declines.

Walmart was in the spotlight, capping a week of major retail earnings. The retail giant raised its full-year sales and profit outlook, crediting its low-price strategy for drawing in shoppers. However, second-quarter profit came in below lofty expectations, sending shares lower in premarket trading.

Market sentiment was also weighed down by lingering concerns over interest rates. Minutes from the Fed’s July meeting signaled that policymakers remain more focused on stubborn inflation than on a cooling labor market, dampening hopes for near-term rate cuts.

Investors are now turning their attention to preliminary August data on US manufacturing and services, weekly jobless claims, and—most notably—Fed Chair Jerome Powell’s speech on Friday, which could offer clues on the central bank’s policy path.

Short sellers have reportedly reaped over $5 billion from recent weakness in tech stocks, as AI-related jitters ripple through the market.


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