Chris Arnold

NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered and Weekend Edition. He joined NPR in 1996, and was based in San Francisco before moving to Boston in 2001.

In recent years, Arnold has spent much of his time reporting on the financial crisis, its aftermath, and the U.S. economy's ongoing recovery. He has focused on the housing bubble and its collapse. And he's reported on problems within the nation's largest banks that have led to the banks improperly foreclosing on thousands of American homeowners. For this work, Arnold earned a 2011 Edward R. Murrow Award for the special series, The Foreclosure Nightmare. He's also been honored with the Newspaper Guild's 2009 Heywood Broun Award for broadcast journalism. He was chosen by the Scripps Howard Foundation as a finalist for their National Journalism Award, and he won an Excellence in Financial Journalism Award from N.Y. State's society for CPA's.

Arnold is also reporting on the now government-owned mortgage giants Fannie Mae and Freddie Mac. In a series of stories in partnership with ProPublica, Arnold exposed investments at Freddie Mac that raised serious concerns about a conflict of interest between Fannie and Freddie's massive investment portfolios, and their mission to make home ownership more affordable. The stories generated widespread attention, and led to calls for an investigation by members of Congress.

Arnold was recently honored with a Nieman Journalism Fellowship at Harvard University during the 2012-2013 academic year. He joined a small group of other journalists from the U.S. and abroad and studied, among other things, economics and the future of home ownership in America.

Prior to that, Arnold covered a range of other subjects for NPR – from Katrina recovery in New Orleans and the Gulf Coast, to immigrant workers in the fishing industry, to a new kind of table saw that won't cut your fingers off. He traveled to Turin, Italy, for NPR's coverage of the 2006 Winter Olympics. He has also followed the dramatic rise in the numbers of teenagers abusing the powerful and highly addictive painkiller Oxycontin – more than 1 out of 20 high school seniors report using the drug.

In the days and months following the Sept. 11, 2001, attacks, Arnold reported from New York and contributed to the NPR coverage that won the Overseas Press Club and the George Foster Peabody Awards. He chronicled the recovery effort at Ground Zero, focusing on members of the Port Authority Police department, as they struggled with the deaths of 37 officers - the greatest loss of any police department in U.S. history.

Prior to his move to Boston, Arnold traveled the country for NPR doing feature stories on entrepreneurship. His pieces covered technologists, farmers, and family business owners. He also reported on efforts to kindle entrepreneurship in economically disadvantaged areas ranging from inner-city Los Angeles to the Pine Ridge Indian reservation in South Dakota.

Arnold has worked in public radio since 1993. Before joining NPR, he was a freelance reporter working out of San Francisco's NPR Member Station, KQED.

Pages

9:47am

Mon April 2, 2012
Technology

Fixing The Cutting-Edge: Innovation Meets Table Saw

Originally published on Wed April 4, 2012 10:14 am

David Butler and one of his safer tools.
Chris Arnold NPR

When you think of cutting-edge technology, power tools don't generally come to mind. Take the table saw: Many woodworkers are using 30-year-old saws in their wood shops and, among the major tool companies, there hasn't been much innovation since those decades-old tools came out.

But more and more inventors are trying to make these saws safer — and David Butler is one of them. At his home in Cape Cod, Mass., Butler flips on the fluorescent lights in his basement turned wood shop.

Read more

4:03am

Fri March 23, 2012
Crisis In The Housing Market

Fannie, Freddie Press For Mortgage Write-Downs

A Fannie Mae/Freddie Mac mortgage services representative (left) helps a person register for mortgage help in Miami.
Joe Raedle Getty Images

The two most powerful entities in the housing market — Fannie Mae and Freddie Mac — could be on the verge of a significant change regarding foreclosures. NPR and ProPublica have learned that both firms have concluded that giving homeowners a big break on their mortgages would make good financial sense in many cases.

Read more

3:51pm

Fri March 16, 2012
Economy

The Market's Finally Looking Up: Will It Last?

Originally published on Fri March 16, 2012 10:03 pm

Trader Peter Tuchman reacts on the floor of the New York Stock Exchange on March 13. That same day, the Dow Jones industrial average had its highest close since 2007.
Richard Drew AP

The stock market hit some major milestones this week: The Standard & Poor's 500 index reached its highest level in more than three years, the Dow Jones industrial average settled in above 13,000 — up about 24 percent since early October — and the Nasdaq rose to its highest level in 11 years. Still, the Federal Reserve has been warning not to get too excited about where the economy is headed next.

David Kotok, chairman and chief investment officer at Cumberland Advisors, says there are a bunch of reason for stocks to be rising.

Read more

3:00am

Thu March 15, 2012
Business

When A Normal Job Resignation Won't Do

When Greg Smith quit his job at Goldman Sachs, he slammed his former employer in a blistering newspaper essay. People don't often quit with such a public display of vitriol. But when they do, it certainly gets attention.

5:01pm

Tue March 6, 2012
Economy

How Many U.S. Jobs Does Apple Really Create?

Originally published on Tue March 6, 2012 6:19 pm

Apple's store in New York City's Grand Central station employs about 315 people.
Spencer Platt Getty Images

Apple has about 47,000 workers in the U.S. That's not a huge amount for such a profitable and influential company. Now the tech giant is saying it has actually created about 10 times that many jobs indirectly.

Some economists are skeptical of the claim. And the move comes as Apple is facing increased criticism and scrutiny over labor practices at factories it outsources to in China.

Read more

3:00am

Fri February 10, 2012
Business

Bank Settlement Could Spur More Foreclosures

Originally published on Fri February 10, 2012 7:02 am

Transcript

STEVE INSKEEP, HOST:

News of the foreclosure settlement spread in Washington, just as the Senate Banking Committee was holding a hearing on the housing market.

NPR's Chris Arnold reports.

CHRIS ARNOLD, BYLINE: Details were still emerging as the hearing began. And senators wanted to know would this deal do anything meaningful to help homeowners and the housing market.

SENATOR ROBERT MENENDEZ: Do you think the $25 billion state/federal foreclosure settlement is a good deal? Do you think that that's the right amount?

Read more

11:01pm

Wed February 8, 2012
Crisis In The Housing Market

Potential Conflicts At Freddie Mac Draw Scrutiny

In December, Freddie Mac CEO Charles Haldeman (from left), FHFA acting Director Edward DeMarco and Fannie Mae CEO Michael Williams testified on Capitol Hill about the Federal Housing Finance Agency's performance.
Chip Somodevilla Getty Images

A federal Inspector General's office confirmed Wednesday it is looking into Freddie Mac investments that act as bets against homeowners being able to refinance.

In addition, U.S. senators are expected to probe Freddie Mac's investment practices at a hearing on Capitol Hill on Thursday.

Freddie Mac, based in northern Virginia, is the taxpayer-owned mortgage giant whose public mission is to make homeownership more affordable for Americans.

Read more

2:50pm

Fri February 3, 2012
The Two-Way

Senator Demands Answers from Freddie Mac's Regulator

Originally published on Fri February 3, 2012 3:19 pm

Sen. Robert Casey, a Democrat from Pennsylvania, sent a list of questions about Freddie Mac's controversial trades to the mortgage giant's regulator, highlighting how much remains unknown even after a flurry of statements from the regulator.

Read more

6:00pm

Mon January 30, 2012
The Two-Way

Report Prompts Calls To End Freddie Mac's Conflict Of Interest

A sign for Freddie Mac in front of its headquarters in McLean, Va.
Alex Wong Getty Images

Several U.S. lawmakers and prominent economists on Monday said Congress and the White House should end a financial conflict of interest at the taxpayer-owned mortgage company Freddie Mac.

Read more

4:08pm

Mon January 30, 2012
Economy

Mortgage Giant Places Bets Against Homeowners

Transcript

MELISSA BLOCK, HOST:

Freddie Mac is a gatekeeper in the mortgage market. In many cases, the taxpayer-owned mortgage company controls who qualifies to refinance a mortgage and who doesn't. Well, NPR has learned that Freddie Mac has been making financial wagers, betting against American homeowners being able to refinance. And now some lawmakers want to put a stop to it. NPR's Chris Arnold has been reporting this story in partnership with ProPublica.org. He has this report.

Read more

4:01am

Mon January 30, 2012
Your Money

Freddie Mac Betting Against Struggling Homeowners

Originally published on Thu March 27, 2014 8:53 am

One of Freddie Mac's restrictions blocks people who have a short sale in their past from refinancing for two to four years following the short sale.
Rich Pedroncelli AP

Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.

But Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.

Read more

3:00am

Tue January 17, 2012
Business

Survey: Small Businesses More Optimistic About Economy

Originally published on Tue January 17, 2012 4:23 am

Transcript

STEVE INSKEEP, HOST:

Small business owners say they're getting more optimistic about the economy, and about their own prospects. That's according to a survey by the National Federation of Independent Businesses, an influential business group. And this is among several recent reports suggesting the economy is continuing to improve.

NPR's Chris Arnold has more.

CHRIS ARNOLD, BYLINE: Small businesses are getting more confident. And that's a good sign, says John Silvia, the chief economist at Wells Fargo.

Read more

3:00am

Thu December 29, 2011
Around the Nation

2012 Could See New Regs For Table Saws

Every year, thousands of Americans suffer severe injuries using the saws. But after a series of reports by NPR, the Consumer Product Safety Commission has started crafting new safety rules for table saws.

11:11am

Tue December 27, 2011
Crisis In The Housing Market

Housing Market Stays Mired In Low Home Price Spin

According to the Standard & Poor's Case-Shiller Home Price Index released Tuesday, home prices were down 3.4 percent this year as of October — around a 35 percent drop from their peak.
Scott Olson Getty Images

This month, consumer confidence jumped to its highest level since April, a sign that the U.S. economy is starting to mend. But the housing market isn't going along yet with this cheerier mood: Home prices were down 3.4 percent for the year as of October, according to a new report released Tuesday.

Read more

3:44pm

Thu December 15, 2011
Still No Job: Over A Year Without Enough Work

Changes In The Economy Leave Workers Scrambling

Originally published on Thu December 15, 2011 6:34 pm

A counselor (right) talks with a man about training programs at a nonprofit training and job placement center in Menlo Park, Calif. Seventy percent of the long-term unemployed and underemployed would like the government to offer more job training services, an NPR/Kaiser Family Foundation poll found.
Paul Sakuma AP

If you're unemployed, it can be painfully clear when you don't have the right skills to land a good job.

With unemployment at 8.6 percent, upwards of 13 million Americans are without a job and looking for work. A recent NPR/Kaiser Family Foundation poll surveyed hundreds of long-term unemployed and underemployed people, asking whether they thought they had the skills required to find a job.

Read more

Pages