Honeywell International chief to join Obama panel

The White House is considering naming the chief executive of Honeywell International, a former vice chairwoman of the Federal Reserve to a new panel on tackling budget deficits.

Confirmation by the Obama administration comes after a Republican and two Democrats emerged as leading candidates to be among Obama’s six appointments to the panel.

Republican David Cote of Honeywell and Democrats Andrew Stern, president of the 2.2m Service Employees International Union, and Alice Rivlin, the former Fed vice president who was also budget director under former President Bill Clinton, could be named within days.

Obama named former White House chief of staff Erskine Bowles, a Democrat, and former Senator Alan Simpson, a Republican, to head the bipartisan commission. The panel will have 18 members, 12 to be appointed by Democratic and Republican leaders in Congress, and six by Obama.