Christine Lagarde on the impact of sharply lower energy prices on the global economy

There will be winners and losers, but on a net-net basis, it’s good news for the global economy.

~ IMF Managing Director Christine Lagarde at The Wall Street Journal CEO Council annual meeting, week of December 1-5, 2014

(The IMF attributes roughly 80% of the fall in oil prices to supply-side causes, such as fuel-efficiency standards and decisions by the Organization of the Petroleum Exporting Countries, and only 20% to declining demand from slowing growth.)