A Bank of America – Merrill Lynch research note says (bolding mine):
- There has been plenty of ink spilled on the impact of the plunge in oil prices on the economy and markets
- … In our view, the bottom line is that the US consumer benefits, although those employed by the oil industry will be hurt, while oil producers will lose, curbing investment activity
- We believe the positives outweigh the negatives
- Overall inflation will likely decline, but with limited pass-through to the core
I post a lot of stuff, not all of which I agree with. But I’m with BoA-ML on this.
