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This podcast comes from the November 17th, 2022 coaching session of the same name.
At the time of writing this article, the federal reserve has not only increased the prime lending rate again, but the fed chairman stated rate increases would continue into next year. He also stated the Fed’s goal was to drive unemployment up and they expected the housing market to weaken significantly. Additionally, the stock market has dropped 20% for this year, mortgage rates have doubled, and housing starts are off 20%. None of this is good news for fabricators. (Yes, even a loosening of the labor market is not good if you are also laying off workers.)
Would you rather ‘guess’ when the music is going to stop – when this super strong demand for countertops will end – and hope you will still be able to play the game – or would you rather have a plan for when the music stops and know you are prepared for whatever this economy throws at you?
