Don’t believe the hype about falling oil prices being a bad sign. That’s what top economist David Rosenberg says.

“We’ve reached a point in this bizarre world where some pundits seem to believe lower energy prices are a bad thing and that the commensurate decline in inflation expectations is something that should be giving the Fed a lot to be concerned about,” Rosenberg wrote in a client note, according to Canada’s Financial Post.

Rosenberg said the big drop in oil prices this year has resulted in the equivalent of a $40 billion tax cut that will benefit sectors like transportation, energy-dependent manufacturers, and consumer discretionary businesses.