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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. Economy Ends 2023 with Strong Job and Wage Growth


The U.S. economy added 312,000 jobs in December, beating analysts’ expectations and marking the biggest monthly gain since February. The unemployment rate rose slightly to 3.9%, but for a positive reason: more people entered the labor force, looking for work.

The labor market also showed signs of strength in wage growth, which increased by 3.2% over the year, the fastest pace since 2009. This suggests that employers are competing for workers and offering higher pay to attract and retain them.

The strong job and wage numbers cap off a solid year for the U.S. economy, which grew by an estimated 3% in 2023, the highest rate since 2015. However, some challenges remain, such as the ongoing trade tensions with China, the partial government shutdown, and the volatility in the stock market.

The Federal Reserve, which raised interest rates four times in 2023, is expected to continue its gradual tightening of monetary policy in 2024, but may adjust its pace depending on the economic data and the market conditions.



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U.S. Job Growth Exceeds Expectations in December, Wages Rise Solidly

According to the Bureau of Labor Statistics, the U.S. economy added 514,000 jobs in December, exceeding expectations. The unemployment rate fell to 3.9%. The report also showed that wages rose solidly, with average hourly earnings increasing by 0.5%. This is a positive sign for the U.S. economy, which has been recovering from the pandemic.

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