A record 45 million Americans travelled over the Memorial Day weekend even as gas prices hit four-year highs, marking the unofficial start of summer with markets and government closed for the holiday. The Federal Reserve opens its Warsh era as bond traders price a 2026 rate path ahead of a heavy data week. New federal student loans narrow to two repayment plans from July. In Canada, Carney advanced the country’s first sovereign wealth fund and welcomed FIFA to Ottawa. Today’s USA and Canada intelligence brief tracks six domestic decisions shaping the week.
01 · USA — Record 45 Million Travel for Memorial Day Despite Four-Year-High Gas Prices
A record 45 million Americans travelled at least 50 miles from home over the Memorial Day weekend, AAA projected, with 39.1 million driving — 87% of the total — and 3.66 million flying, surpassing both last year’s 44.8 million and the 2019 figure. The holiday marks the unofficial start of summer, with markets, banks, and federal offices closed Monday.
Gas prices reached their highest Memorial Day level since 2022, with the national average around $4.50 a gallon, about $1.38 above a year earlier. California led at $6.14 and Mississippi was lowest at $4.01; every state crossed $4 and seven topped $5. Yet travel demand held: Bank of America and Mastercard analysts described “demand reshuffling rather than softening,” with households trading down to shorter trips rather than cancelling. GasBuddy’s summer forecast points to a $4.80 national average, framing the consumer’s value-focused calibration as the season opens.
