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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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“Voices of Exclusion: Black Diplomats Challenge Systemic Racism at Global Affairs Canada”

President and CEO of the Black Class Action Secretariat Nicholas Marcus Thompson looks on as Global Affairs Canada employee Madina Iltireh speaks during a news conference in Ottawa on Wednesday, Oct. 22, 2025.

Current and former Black employees at Global Affairs Canada are speaking out, alleging that the department has failed to take their complaints of racism and discrimination seriously.

At a recent news conference on Parliament Hill, members of the Black Class Action Secretariat highlighted cases where internal complaints were dismissed, only to be later upheld by courts or external commissions. Among those sharing her story was Madina Iltireh, who worked more than two decades in foreign aid administration. She described feeling isolated and discriminated against during her posting in Kuwait, where an internal investigation eventually confirmed she had been subjected to bullying and discriminatory practices.

The Secretariat argues that these cases reflect a broader pattern of systemic racism across the federal public service. They are pursuing legal challenges, including an appeal before the Federal Court of Appeal, which could take a year to resolve.

Global Affairs Canada has acknowledged the concerns but faces mounting pressure to implement meaningful reforms. Advocates say the department must move beyond symbolic gestures and commit to structural change to ensure Black employees are treated with fairness and dignity.


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