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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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Toronto Senior Battles Viral Hoax Linking Him to U.S. Political Shooting


A 77-year-old retired banker from Toronto is speaking out after being falsely accused online of assassinating American right-wing commentator Charlie Kirk. Michael Mallinson says he was stunned to discover his name and photo circulating on social media, wrongly identifying him as the shooter in the Utah college attack that killed the 31-year-old political figure.

The misinformation appears to have originated from a fake account impersonating a Nevada news station, which posted Mallinson’s image alongside claims he was a Utah Democrat arrested for the killing. In reality, Mallinson has never met Kirk, never been to Utah, and was at home in Toronto when the shooting occurred.

The false posts quickly went viral, prompting a flood of hateful messages toward Mallinson and his family. He has since deleted his social media accounts and reported the incident to police, but says the ordeal has been distressing and damaging. Meanwhile, authorities in Utah continue their search for the real gunman, who remains at large.


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