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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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Air Travel Chaos Deepens as FAA Orders More Cuts Amid Shutdown

Travelers walk though Ronald Reagan Washington National Airport as the Trump administration warns of impending cuts to commercial airline operations more than a month into the continuing U.S. government shutdown in Arlington, Virginia, U.S., November 7, 2025. 

Major U.S. airlines are bracing for a third consecutive day of government-mandated flight reductions as the ongoing federal shutdown continues to cripple the nation’s air travel system. The Federal Aviation Administration (FAA) has ordered carriers to cut 4% of daily flights at 40 major airports, citing severe air traffic control staffing shortages caused by the shutdown.

The crisis escalated over the weekend, with more than 1,300 flights canceled on Saturday and thousands more delayed across major hubs including Atlanta, Chicago, Newark, and Los Angeles. The FAA has warned that reductions will increase to 6% on Tuesday and reach 10% by November 14, raising fears of widespread disruption just weeks before the busy Thanksgiving travel period.

Transportation Secretary Sean Duffy cautioned that air travel could be reduced to “a trickle” in the days leading up to Thanksgiving, one of the busiest travel seasons of the year. Millions of Americans typically take to the skies during this period, but the prolonged shutdown—now in its 40th day, the longest in U.S. history—has left thousands of federal employees, including air traffic controllers, working without pay or unable to report for duty.

Airlines such as Delta, United, American, and Southwest have scrambled to adjust schedules, issue travel waivers, and rebook passengers. However, industry leaders warn that the situation is unsustainable, with mounting delays and cancellations threatening both traveler confidence and the economic health of the aviation sector.

For passengers, the advice is clear: expect disruptions, plan ahead, and remain flexible. With flight cuts set to intensify, the coming weeks may mark one of the most challenging travel seasons in recent memory.


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