Newsletter - January
Market Updates
• Federal Reserve Chair, Jerome Powell, indicated interest rates may rise more rapidly than planned to contain inflation.
• Supply chain snags, shipping container shortages, driver & warehouse worker vacancies, combined with high demand, resulting in higher prices (and short inventory).
• Consumer Price Index reached 7% in 2021 with food & energy rising 5.5%
• Economists predict overall inflation will ease with the current lower oil and energy prices.
• Sherwin Williams will implement a price increase February 2022 of +15% on Industrial Coatings, +12% on Architectural Paint & Chemical Coatings - citing raw material and labor challenges. Demand will remain strong on housing & construction.
• The US Supreme Court blocked a COVID vaccine or testing requirement for businesses.