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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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U.S.–Canada Tensions Spike as Trump Warns of 100% Tariffs Over China Deal

 

 Minister responsible for Canada-U.S. trade says Ottawa is not working on a free-trade deal with China.


A fresh wave of economic tension has emerged between Washington and Ottawa after President Donald Trump warned that the United States would impose a 100% tariff on all Canadian goods if Canada proceeds with a developing trade agreement with China. The warning, delivered through Trump’s social media posts and echoed during recent public appearances, marks a sharp escalation in the ongoing friction between the two countries. 

Trump criticized Prime Minister Mark Carney’s outreach to Beijing, including a preliminary trade arrangement that aims to expand economic cooperation and reduce tariffs between Canada and China. He accused Canada of risking becoming a “Drop Off Port” for Chinese goods entering the U.S. market—an allegation that has intensified political debate on both sides of the border. 

Carney, speaking at the World Economic Forum in Davos, emphasized that Canada would continue focusing on what it can control, signaling that Ottawa does not intend to be swayed by external pressure. His remarks were widely interpreted as a subtle rebuke of Trump’s aggressive stance.

As both nations navigate shifting global alliances and economic priorities, the threat of sweeping tariffs adds uncertainty to an already fragile trade landscape. Whether Canada proceeds with its China deal—and how the U.S. responds—could reshape North American trade dynamics in the months ahead.

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