Here are five things you need to know this morning

Fed Day: The U.S. Federal Reserve will announce its latest decision on interest rates at 2:00 P.M. ET today. The Fed is expected to hold rates steady, in a range between 4.25 per cent and 4.5 per cent. However, the Fed is expected to adjust its view on the economy and possibly the future path for interest rates. Fed Chair Jerome Powell and his colleagues in recent weeks have advocated a patient approach in which they don’t need to be in a hurry to do anything. They are also expected to drop clues about where things go from here against the uncertain backdrop of U.S. President Trump’s trade and fiscal policies. That could include anything from tweaks in projections for inflation and economic growth to how often, if at all, they expect to lower interest rates further. BNN Bloomberg will cover the announcement live, as well as Fed Chair Powell’s news conference at 2:30 P.M.

Evolving U.S. tariff plan: Speaking of tariffs, there is some new information on how the U.S. plans to implement its plan. U.S. Treasury Secretary Scott Bessent says the Trump administration will announce a tariff rate for each of its trading partners on April 2, then give the countries an opportunity to avoid the levy by lowering their own tariffs or addressing other American grievances. In an interview with Fox News, Bessent said “What’s going to happen on April 2, each country will receive a number that we believe represents their tariffs. So, for some countries, it could be quite low, for some countries it could be quite high.” He said that the number will include both tariffs countries put on U.S. goods, and other measures that the administration believes disadvantage U.S. companies. Speaking to Bloomberg News, Bessent also said “I wouldn’t expect any carve-outs” with regard to reciprocal tariffs.

Energy CEOs get political: A group of Canada’s energy sector CEOs is calling on the leaders of the four federal political parties to declare a Canadian energy crisis and use emergency powers to help speed the development of key projects. In an open letter, the chief executives of 10 of the largest oil and natural gas companies and the four largest pipeline companies outlined their plan to strengthen Canadian economic sovereignty. They say there is increasing public support to grow the sector and build energy infrastructure, including pipelines and LNG terminals, to expand Canada’s energy exports. The energy executives are calling for a simplification of regulation and a commitment to firm deadlines for project approvals. They also want an elimination of the federal government’s cap on emissions, the repeal of the federal carbon levy on large emitters and loan guarantees to help Indigenous co-investment opportunities.

Couche gets closer to 7-Eleven: Canada’s Alimentation Couche-Tard says it is working with the Japanese owner of the 7-Eleven chain of convenience stores on plans to sell off some of its U.S. stores. The divestments would be needed if Couche-Tard successfully negotiates a takeover of Seven & i Holdings. On a conference call with analysts , Couche-Tard Chief Executive Officer Alex Miller also noted the company has not signed a non-disclosure agreement with Seven & I … though NDAs are being signed by potential buyers in the divestment process.

Snacking slowdown?: Are we snacking less? Or just snacking cheaper? General Mills, the maker of Bugles and Chex Mix, has cut its sales forecast for this year, citing a buildup in retailer inventory and a “snacking slowdown.” With increasing economic uncertainty, consumers seem to be pulling back, including on their spending on food. Packaged food makers, including General Mills and Kraft Heinz, have been cutting prices, but it isn’t a guaranteed lever to spur sales. General Mills Chief Executive Officer Jeffrey Harmening says, “It’s been a challenging year,” pointing to what he calls a “prolonged value-seeking consumer.”