Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

Before joining the NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

Zarroli graduated from Pennsylvania State University.

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4:49am

Thu April 18, 2013
Business

Despite Flaws, Harvard Economists Stand By Research

Originally published on Thu April 18, 2013 11:22 am

Transcript

STEVE INSKEEP, HOST:

Two prominent Harvard economists have admitted there are errors in an influential paper they wrote on government debt. This paper was widely cited in recent budget debates. But the economists insist their mistakes do not significantly change their research.

NPR's Jim Zarroli reports.

JIM ZARROLI, BYLINE: In their 2010 paper, Ken Rogoff and Carmen Rinehart argued that economic growth falls significantly when a country's debt level rises above 90 percent of its Gross Domestic Product or GDP.

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6:11am

Sat April 6, 2013
Economy

Sequester Pinches Long-Term Unemployed Even More

Originally published on Sun April 7, 2013 10:08 am

A crowd of jobseekers attends a health care job fair on Thursday in New York.
Mark Lennihan AP

Almost 5 million Americans are considered long-term unemployed, meaning they have been searching for work for at least six months.

This week, their plight is getting a bit tougher as the government cuts their unemployment benefits — part of the automatic reductions in federal spending that took effect recently.

On a recent day, about 40 people turned out at a Manhattan jobs center run by the New York Labor Department to get advice on looking for work. These are all people who have been out of work for at least 27 weeks.

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5:50pm

Mon March 25, 2013
Economy

As Cardinal, New Pope Walked Fine Line On Economic Issues

Originally published on Wed March 27, 2013 4:59 pm

The former Cardinal Jorge Mario Bergoglio walks outside the chapel during a Mass at the Barracas neighborhood in Buenos Aires, Argentina, in 2003. Bergoglio, who became Pope Francis, is said to have the same position as his predecessors on economic matters.
AP

He took his name from a 13th century saint who gave up his wealth and threw in his lot with the poor. As cardinal in Argentina, he eschewed the trappings of power and privilege, taking public transportation and even cooking his own meals.

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4:12am

Fri March 15, 2013
NPR Story

JPMorgan In Hot Seat Over London Whale Losses

Transcript

RENEE MONTAGNE, HOST:

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3:09pm

Mon March 11, 2013
Business

In Trendy World Of Fast Fashion, Styles Aren't Made To Last

Originally published on Mon March 11, 2013 4:36 pm

Prices at stores like Forever 21 are so low, "it's virtually impossible to walk out empty-handed," says Elizabeth Cline, who writes about fast fashion.
Michael Buckner Getty Images

When she got out of college and moved to New York, Elizabeth Cline liked to shop at vintage-clothing stores. They were the kinds of places tucked away on side streets in Manhattan and Brooklyn, where a lot of hunting and a little luck might reward you with a great, inexpensive cocktail dress that no one else had.

Then she discovered the world of "fast fashion" — chains like Forever 21, H&M and Zara — and it redefined her whole notion of bargain shopping.

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4:54pm

Wed February 27, 2013
All Tech Considered

As States Embrace Online Gambling, Questions Arise

Originally published on Wed February 27, 2013 5:35 pm

Internet gambling has become legal in New Jersey and Nevada, but experts say enforcement and regulations still need to be straightened out.
Jim Mone AP

Several states are rushing to establish a foothold in online gambling — an activity that federal officials were only recently trying to ban.

Just a while ago, the federal government actually viewed online gambling as a crime. Lately, the Obama administration has taken a more permissive stance. It now allows states to sell lottery tickets online.

New Jersey Gov. Chris Christie had expressed reservations about online gambling a month ago and had vetoed an earlier version of the bill. But in the end, the pressure to sign the legislation was just too great.

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6:09pm

Fri February 8, 2013
Around the Nation

Historic Blizzard Freezes Transit In Northeast U.S.

Transcript

AUDIE CORNISH, HOST:

It's ALL THINGS CONSIDERED from NPR News. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Heavy snow is falling across the Northeast, and when it's all over, winter storm Nemo could be a blizzard of historic proportions. The governor of Massachusetts has even ordered all cars off the roads.

CORNISH: The impact on transportation is widespread: thousands of flights cancelled, trains service disrupted. NPR's Jim Zarroli tells us more.

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5:36pm

Tue February 5, 2013
Business

S&P Lawsuit Puts Ratings Firms Back In The Spotlight

Originally published on Tue February 5, 2013 6:17 pm

In a lawsuit, the Justice Department alleges Standard and Poor's misled investors with fraudulent credit ratings. The agency could seek more than $5 billion in damages.
Henny Ray Abrams AP

The Justice Department said Tuesday it could seek more than $5 billion in damages from Standard & Poor's, the nation's biggest credit ratings company, a day after it sued the company, alleging that S&P defrauded investors by giving triple-A ratings to risky subprime mortgage investments.

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9:44am

Wed January 30, 2013
Economy

In 4th Quarter, Economy Shrank For First Time Since '09

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION, from NPR News. I'm Steve Inskeep, with Renee Montagne. Good morning.

Let's try again, shall we, to explain what it means when we hear that the U.S. economy shrank in the fourth quarter of 2012. As we've discussed elsewhere in the program, the decline was slight - just one-tenth of a percentage point - but it is the first contraction of the economy since the Great Recession officially ended in 2009. NPR's Jim Zarroli is with us once again in New York. Jim, good morning.

JIM ZARROLI, BYLINE: Good morning.

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4:26am

Sat January 26, 2013
Economy

Japan's Economic Plan May Be Bad News For Everyone Else

Originally published on Sat January 26, 2013 4:36 pm

Masaaki Shirakawa, the governor of the Bank of Japan, speaks before the press in Tokyo on Friday. The central bank announced new measures to stimulate the economy Tuesday.
Rie Ishii AFP/Getty Images

Moves taken by Japan's central bank are raising fears that the world could face what's called a "currency war." The measures, announced Tuesday, are designed to flood Japan's moribund economy with money and encourage businesses and consumers to spend more.

Steps like these have been tried again and again by countries all over the world — including the U.S. — in recent years, with mixed success.

What's Wrong With Pouring Money Into The Problem?

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4:11pm

Tue January 22, 2013
Business

Algeria Attack Raises Security Alarms For Energy Firms

Originally published on Tue January 22, 2013 7:48 pm

This undated image shows the Amenas natural gas field in Algeria, where Islamist militants raided and took hostages last week. Dozens of hostages and their captors were killed when Algerian forces subsequently raided the facility.
BP AP

The prime minister of Algeria is defending his government's response to last week's attack on a natural gas plant that left 37 hostages dead. He says the Islamic militants who were behind the attack planned to blow up the facility and would have killed a lot more people if they hadn't been stopped.

The attack happened at a huge, internationally operated facility in the Sahara. And it underscores the dangers that energy companies face when they do business in politically unstable places.

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5:06am

Tue January 8, 2013
Business

Settlements Underscore Damage Done In Housing Crash

Transcript

STEVE INSKEEP, HOST:

Some other news: Some of the biggest banks in the country have agreed to pay more than $18 billion to settle allegations of wrongdoing in their mortgage lending. That's today's "Business Bottom Line."

Bank of America said yesterday it would pay more than $10 billion to the mortgage company Fannie Mae because of bad loans sold during the housing boom. And in a separate settlement, 10 banks agreed to pay more than $8 billion in total, to settle claims that they made errors in foreclosing on people's homes. NPR's Jim Zarroli reports.

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3:15am

Mon December 31, 2012
Economy

Europe Fails To Stimulate Growth In 2012

Originally published on Mon December 31, 2012 11:52 am

The U.S. economy grew at a steady though not very strong pace this year. But Europe slipped back into recession because of the ongoing debt crisis. European leaders took steps to stimulate growth, but it wasn't enough to reverse course.

The economic crisis that got under way five years ago was felt all over the world. But Mohammed El-Erian, CEO of the investment firm PIMCO, says different regions have healed at much different rates.

The year "2012 was another multispeed world globally, in the sense that different parts did different things," he says.

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3:18pm

Fri December 28, 2012
U.S.

Major Port Strike Averted — For Now

Originally published on Fri December 28, 2012 4:06 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish. A strike has been averted at many of the nation's busiest shipping ports, at least temporarily. The union representing longshoremen at ports along the East Coast and the Gulf of Mexico have threatened to walk off the job starting Sunday. But as we hear from NPR's Jim Zarroli, port operators and the union have reached agreement on one of their most contentious issues.

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3:34am

Sat December 15, 2012
Shootings In Newtown, Conn.

Small Town Tries To Cope With Unimaginable Tragedy

Originally published on Sun December 16, 2012 12:43 pm

Mourners gather for a vigil service for victims of the Sandy Hook Elementary School shooting at St. Rose of Lima Roman Catholic Church in Newtown, Conn., on Friday night.
Andrew Gombert AP

Newtown, Conn., is a white-collar community an hour and a half northeast of New York City. It's the kind of place where crime is rare and the biggest thing that happens each year is the Labor Day parade.

Now the peace and quiet has been shattered, and residents are trying to make sense of what's happened.

Hours after the shootings that left so many people dead, St. Rose of Lima Catholic Church opened its doors for a prayer vigil. People filed through the streets and past houses decorated with Christmas lights.

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