Decline In Oil Price Is a Blessing For AMERICA

The Federal Reserve chief believes oil tumbling below $55 a barrel is like a tax cut for American consumers.

"From the standpoint of the U.S. and U.S. outlook, the decline we've seen in oil prices is likely to be, on net, a positive," said Yellen at a press conference on Wednesday.
"It's good for families, for households. It's putting more money in their pockets," she said.
Thanks to the oil price decline, drivers in at least 13 states around the country can now find gas for cheaper than $2 a gallon.
Cheaper energy also translates to lower expenses for many U.S. businesses, especially ones in the transportation industry like airlines.