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5 Things to Know Today — September 22, 2026

  September 22, 2026 BoC hike odds reach a coin flip. Oil retreats from four-month highs. Trump's Belarus potash play draws fire. A new federal bill speeds up major projects — with strings attached. Here's what moves your money today. 1. BoC October Hike Is Now a Coin Flip The Bank of Canada next meets October 28 , and markets are evenly split on whether it will raise rates for the first time since cutting to 2.25%. The whiplash is largely imported: after the U.S. Federal Reserve hiked 25 basis points to 3.75–4.00% on September 16 in a unanimous 12-0 vote — the first American rate increase since July 2023 — market-implied odds of a matching BoC move jumped from below 10% to roughly 60% in two weeks, according to LSEG Data & Analytics. Before the BoC's September 2 hold, odds of a hold sat at 94%. The 175-basis-point gap between the BoC (2.25%) and the Fed (3.75–4.00%) is the widest since 2022, which puts direct downward pressure on the loonie and upward pressure on Ca...

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Larry Summers Retreats from Public Life Amid Epstein Email Fallout

 

  Larry Summers, professor at Harvard University, during an interview in New York, on Sept. 17, 2025.


Larry Summers, former U.S. Treasury Secretary and ex-president of Harvard University, announced he will step back from public engagements following the release of thousands of emails linking him to convicted sex offender Jeffrey Epstein. Summers described himself as “deeply ashamed” of his actions, acknowledging the pain caused by his continued communication with Epstein long after the financier’s 2008 conviction.

The House Oversight Committee recently published more than 20,000 documents from Epstein’s estate, including extensive correspondence between Summers and Epstein. The emails revealed that their relationship persisted until at least 2019, just before Epstein’s arrest on sex trafficking charges. In some exchanges, Epstein attempted to connect Summers with influential global figures, while Summers sought advice on personal matters.

Summers issued a statement saying he will continue teaching at Harvard but will pause all public commitments as part of an effort to “rebuild trust and repair relationships with the people closest to me.” His decision comes amid mounting calls from lawmakers and activists for institutions to sever ties with him. Senator Elizabeth Warren has publicly urged Harvard and other organizations to reconsider their association with Summers.

The revelations have intensified scrutiny of Epstein’s extensive network of powerful acquaintances, reigniting debates about accountability and transparency in elite institutions. Summers’ retreat underscores how the fallout from Epstein’s crimes continues to reverberate years after his death, ensnaring figures who maintained ties with him despite his criminal record.

In summary: Summers’ admission of shame and his withdrawal from public life highlight the enduring impact of Epstein’s legacy and the reputational risks for those who remained connected to him.

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