Spectrum of a polynomial-generated Banach subalgebra (${\sigma }_B(x)={\sigma }_A(x)\cup \{\text{bounded components of }{\rho }_A(x)\}$)

For $B=\overline{\mathbb{C}[1,x]}$ inside $A$, the displayed set is the full spectrum of $x$ in $A$. On a bounded complementary component, the maximum modulus principle gives $|p(\lambda )|\le {\max }_{{\sigma }_A(x)}|p|\le \Vert p(x)\Vert$. Evaluation $p(x)\mapsto p(\lambda )$ therefore extends to a character of an algebra on $B$, showing $\lambda \in {\sigma }_B(x)$. Conversely the unbounded resolvent component survives by resolvent components in a closed unital subalgebra. In particular, if zero lies in that component, $x^{-1}$ belongs to the norm closure of polynomials in $x$.