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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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Trudeau's Zoom Call Sparks Cabinet Shake-Up: Freeland Out, Carney In

In a surprising turn of events, Prime Minister Justin Trudeau informed Finance Minister Chrystia Freeland over a Zoom call that she would be replaced by Mark Carney. This unexpected move has sent shockwaves through the political landscape, raising questions about the future direction of Canada's economic policies.

Freeland, who has been a key figure in Trudeau's cabinet, reportedly received the news during a virtual meeting, highlighting the modern approach to significant political decisions. The decision to replace Freeland with Carney, a former Governor of the Bank of Canada and the Bank of England, suggests a shift towards a more technocratic approach to managing the country's finances.

The announcement has sparked a flurry of reactions from political analysts and the public alike. Many are speculating about the reasons behind this sudden change and what it means for the Liberal government's economic strategy moving forward. Freeland's departure marks the end of an era, and Carney's appointment signals a new chapter in Canada's financial leadership.

As the dust settles, all eyes will be on Carney as he steps into his new role, tasked with navigating the country through its economic challenges and opportunities. The political landscape in Ottawa is sure to be closely watched in the coming days as further details emerge about this significant cabinet reshuffle.

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