This Time, Cheaper Oil Does Little for the U.S. Economy - The New York Times
▻http://www.nytimes.com/2016/01/22/business/energy-environment/this-time-cheaper-oil-does-little-for-the-us-economy.html
But this time is different. The losses from lower prices are larger and quicker than expected as energy companies cut back on investment and lay off workers, while the gains are smaller and slower to materialize, as consumers save some of their windfalls.
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The decline of oil prices is causing other problems, too. It has contributed to the correction in global equity markets; the Standard & Poor’s 500-stock index is down 10 percent this year. And lower prices are weighing on #inflation, jeopardizing the Federal Reserve’s plans to raise interest rates by about one percentage point this year.