PNC’s Hoffman Says Tax Compromise Would Boost U.S. Economy
The plan would add 0.25 percentage point to gross domestic product in 2011 and cut the unemployment rate to 8.8 percent or 8.9 percent, Hoffman, senior vice president and chief economist at PNC Financial Services Group Inc. in Pittsburgh, said today in a radio interview on “Bloomberg Surveillance” with Tom Keene.
Last month, the jobless rate rose to 9.8 percent. The economy expanded at a 2.5 percent annual rate in the third quarter.
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