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Cohn Rebuts Blankfein Worry, Says It's Time for Tax Stimulus Now

  • Blankfein questioned need for economic boost from tax reform
  • Cohn said lackluster wage growth justifies a fiscal stimulus
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White House National Economic Council Director Gary Cohn discusses the tax plan and job report.(Source: Bloomberg)

White House economic adviser Gary Cohn said the time is ripe for a fiscal boost to the U.S. economy, disagreeing with the man who was his boss for more than a decade at Goldman Sachs Group Inc.

Cohn’s remarks Friday on Bloomberg Television came a day after Goldman Sachs Chief Executive Officer Lloyd Blankfein said “when we’re kind of, mostly, at full employment, when GDP last registered at 3 percent -- I don’t know that this is the moment that you provide the biggest stimulus.”