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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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Larry Summers Retreats from Public Life Amid Epstein Email Fallout

 

                                   Larry Summers, a former president of Harvard University amongst other positions held

Former U.S. Treasury Secretary and ex-Harvard University president Larry Summers announced he is stepping back from public roles following the release of extensive correspondence between himself and the late financier Jeffrey Epstein. The documents revealed years of communication between Summers and Epstein, continuing up until 2019.

Summers, who served under Presidents Bill Clinton and Barack Obama, expressed regret in a public statement, saying he is “deeply ashamed” of his actions and takes full responsibility for maintaining ties with Epstein. He emphasized that while he will continue his teaching duties at Harvard, he will withdraw from other public commitments as part of an effort to “rebuild trust and repair relationships with the people closest to me.”

The release of more than 20,000 Epstein-related documents has reignited scrutiny of prominent figures connected to the disgraced financier. Summers’ decision to step back comes amid mounting criticism from political leaders and academic circles, with calls for institutions to distance themselves from him.

Summers’ retreat underscores the broader fallout from Epstein’s network of influence, which continues to cast a shadow over high-profile individuals years after Epstein’s death. His statement reflects both personal accountability and the growing pressure on public figures to address past associations with the convicted sex offender.

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