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The Fed Just Hiked Rates. Here's What It Means for Your Canadian Mortgage.

  The U.S. Federal Reserve raised its benchmark rate 25 basis points yesterday — the first hike in three years. The Bank of Canada hasn't moved. That gap is now the biggest story in Canadian personal finance. MoneySavings.ca  |  September 17, 2026  |  Canadian Money Brief Yesterday afternoon, the Federal Open Market Committee voted 12-0 to raise the U.S. federal funds rate by a quarter point, pushing it to a target range of 3.75%–4.00%. It's the Fed's first rate hike since July 2023, and Chair Kevin Warsh made clear it almost certainly won't be the last. The Bank of Canada, by contrast, has held its overnight rate at 2.25% through seven straight meetings. It doesn't decide again until October 28. For Canadians with a mortgage, a renewal coming up, or a home equity line of credit, this matters more than it might look at first glance. 3.75–4.00% New U.S. Fed Rate 2.25% Bank of Canada Rate 1.625% Rate Gap (vs. 1.375% yesterday) ~71.5¢ Loonie (post-hike low) What th...
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Trump Pushes Tariff Battle to Supreme Court After Appeals Court Setback

 

U.S. President Donald Trump has announced plans to appeal to the Supreme Court after a federal appeals court ruled that many of his sweeping tariffs were imposed without proper legal authority. The 7-4 decision by the U.S. Court of Appeals for the Federal Circuit found that Trump exceeded his powers under the 1977 International Emergency Economic Powers Act (IEEPA), which does not explicitly authorize tariffs.

The contested duties — including the so-called “Liberation Day” tariffs and fentanyl-related levies — targeted most U.S. trading partners and were central to Trump’s trade strategy. While the court allowed the tariffs to remain in place until October 14, Trump is seeking an expedited Supreme Court ruling, warning that removing them could weaken the U.S. economy.

Critics, including small businesses and several states, argue the tariffs have raised consumer prices and disrupted trade. The Supreme Court’s decision could have far-reaching implications for presidential trade powers and the future of U.S. tariff policy.


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