President Barack Obama’s top economic aides are meeting with chief executives from Honeywell International Inc., Alcoa Inc. and others to spotlight U.S. gains in manufacturing as a path to creating jobs.
The fiscal impasse that’s setting the stage for a partial shutdown of the U.S. government may plunge the world’s largest economy into recession, Honeywell International Inc. Chief Executive Officer David Cote said.
The U.S. risks triggering a global recession unless the White House and Congress avert $1.2 trillion in spending cuts set for January, Honeywell International Inc. Chief Executive Officer David Cote said.
U.S. business leaders have a message for President Barack Obama and the political leaders in Congress over the stalemate on the budget and debt ceiling: It’s not our job to save Washington from itself.
Any plan to reduce the U.S. deficit will need cuts to Medicare and Social Security in addition to tax increases, said Honeywell International Inc. Chief Executive Officer David Cote , who served on President Barack Obama ’s debt commission last year.
Chief executive officers at companies ranging from Honeywell International Inc. to JetBlue Airways Corp. said that a prolonged shutdown of the U.S. government has the potential to jeopardize the economic rebound.
Federal Reserve Bank of Boston President Eric Rosengren, a consistent backer of record stimulus who votes on policy this year, said the Fed refrained from tapering its bond purchases last month because growth was lower than forecast and fiscal policy posed a risk to the outlook.
Chief executive officers should do five things “to put pressure on Washington” concerning the ballooning national debt, David Cote, chief executive officer of Honeywell International Inc. wrote in the Financial Times.