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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3:10am

Fri April 27, 2012
Europe

Dilemma For European Banks: Clean Books Or Lend?

Originally published on Fri April 27, 2012 8:35 am

Many of the most troubled European banks, like the French-Belgian Dexia, lost money in subprime mortgages and Greek bonds.
Yves Logghe AP

The walls of the Clock Shop in downtown Frankfurt, Germany, are lined with timepieces of every kind, from cuckoo clocks to digital watches. It's a testament to the store's 55-year history as a functioning business.

One of the things that has remained constant for much of that time is the store's relationship with its bank, owner Basia Szlomowicz says.

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3:42am

Mon April 23, 2012
Europe

State-Owned German Banks Suffer After Risky Investments

Originally published on Mon April 23, 2012 6:19 am

Unlike the United States, Germany never had a housing bubble. Its mortgage market is too tightly regulated. But some German banks did lose a lot of money in the financial crisis, and they're still paying a big price for it.

2:01am

Tue April 17, 2012
Presidential Race

Did Obama's Policies Help, Or Hinder, The Economy?

Originally published on Tue April 17, 2012 4:14 am

President Obama signs the economic stimulus bill in February 2009, as Vice President Biden looks on. Experts disagree over the impact of the administration's economic policies on the recession.
Darin McGregor AP

The 2012 presidential election is approaching, and President Obama's fate may hinge on how well the economy fares over the coming months.

On the campaign trail, Republican presidential candidate Mitt Romney has been highlighting the economy's weaknesses. The former Massachusetts governor has made a similar claim about the president, and the recession, at almost every campaign stop.

"I don't blame the president for the downturn," Romney told a crowd in New Hampshire earlier this year. "He didn't cause it. But he made it worse and made it last longer."

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3:00am

Wed April 11, 2012
Business

Would The Buffett Rule Help The U.S. Economy?

President Obama makes a case for the tax proposal dubbed the "Buffett rule" Tuesday at Florida Atlantic University in Boca Raton, Fla.
Marc Serota Getty Images

A tax-the-rich proposal named after Warren Buffett has little chance of passing this year, but that hasn't stopped the debate over what impact it would have.

Some economists are skeptical that a 30 percent minimum tax on people with million-dollar incomes — known as the "Buffett rule" — would do much to reduce the deficit or boost the economy. But the Obama administration says the proposal is necessary to make the tax code more equitable.

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7:00am

Sat April 7, 2012
Economy

Unemployment Fell, But More Ended Job Hunt

Just when it seemed to be gaining steam, the U.S. job market pretty much stalled in March. Employers added a net 120,000 jobs during the month, defying the higher expectations of a lot of economists. And though the unemployment rate fell, it did so for the wrong reasons.

Over the past few months, the economy has been adding jobs at a good, if not spectacular, pace, and all the signs suggested that trend had continued through March. As it happened, jobs increased at a rate that barely keeps up with population growth.

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1:50pm

Tue April 3, 2012
Business

City Rents Rise As Buyers Wait Out Housing Bust

Originally published on Tue April 3, 2012 10:05 pm

The Stuyvesant Town and Peter Cooper Village apartment complexes in New York City.
Mario Tama Getty Images

The turmoil in the housing market over the past few years has scared a lot of people away from homeownership. That means many people who can afford to buy are now renting. With so much demand for apartments, rents are once again on the rise. And in places like New York City, they're near record highs.

A few weeks ago Lauren Weitz got her first apartment in the city. Every night when she gets home from the office, she upholds a New York City tradition.

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2:54am

Thu March 29, 2012
Business

Former MF Global Exec Takes 5th At Hearing

Originally published on Thu March 29, 2012 10:28 am

Former MF Global Holdings Ltd. Chairman and CEO Jon Corzine testified on Capitol Hill in December. On Wednesday, a former executive at the company refused to answer lawmakers' questions about events in the run-up to the firm's collapse.
Susan Walsh AP

A former executive at the center of the meltdown of brokerage firm MF Global appeared before Congress on Wednesday to answer questions from lawmakers. Members of the House Financial Services Committee were hoping assistant treasurer Edith O'Brien would explain the actions of the firm's CEO, ex-New Jersey Gov. Jon Corzine.

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4:53pm

Wed March 21, 2012
It's All Politics

Republicans Charge High Gas Prices Part Of A Plan To Decrease Consumption

Originally published on Thu March 22, 2012 7:23 am

A driver pumps gas into his Toyota Prius hybrid at a gas station in Sunnyvale, Calif., in 2007.
Paul Sakuma AP

As gasoline prices rise, some Republicans are making a provocative claim about President Obama. They say higher energy prices are actually part of the administration's agenda and they point to some comments made by the president before he took office.

Presidential candidate Mitt Romney was the latest Republican to make the charge about President Obama, and he did so on Fox News Sunday this past weekend, saying, "There's no question that when he ran for office he said he wanted to see gasoline prices go up."

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4:54pm

Tue March 13, 2012
Economy

Federal Reserve Releases Bank 'Stress Test'

Transcript

MELISSA BLOCK, HOST:

The Federal Reserve has released the results of its much-anticipated stress test of the nation's biggest banks. The Fed says most of the nation's 19 biggest financial institutions passed the tests, although four did not. To find out what this means, we turn to NPR's Jim Zarroli. Jim, first, why is the Fed running stress tests? What are they supposed to show about the banks?

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4:34pm

Thu March 8, 2012
Rick Santorum

Economic Conservatives Question Santorum's Record

Originally published on Thu March 8, 2012 5:12 pm

Republican presidential candidate Rick Santorum addresses an election night party in Steubenville, Ohio, on Tuesday.
Jim Watson AFP/Getty Images

Support for Rick Santorum's presidential campaign has been driven by his conservative stances on social issues. He has taken unyielding stands against abortion and same-sex marriage.

But on economic matters, his record is more mixed. And some conservatives say that on issues like government spending and trade, he has at times betrayed free-market principles.

For example, when Congress voted to approve the North American Free Trade Agreement — a cause dear to the hearts of conservatives — Santorum, then a Pennsylvania representative, was among those voting against it.

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4:37pm

Wed March 7, 2012
Europe

Uncertainty Looms As Greek Debt Deadline Nears

People walk past the Bank of Greece headquarters in Athens. Greece toughened its stance to push creditors to accept a debt swap and take heavy losses, just one day before the Thursday deadline for completion of the deal to avert default.
Louisa Gouliamaki AFP/Getty Images

Stock prices rebounded somewhat Wednesday, one day after their biggest sell-off of the year. What caused prices to plunge Tuesday was an all-too-familiar problem: the Greek debt crisis.

European officials have cobbled together a deal to keep Greece from defaulting, and investors all over the world who hold Greek bonds are weighing their options. They're worried about what could happen if they reject the deal.

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2:41am

Mon March 5, 2012
Business

Are Tax Breaks The Right Move For Manufacturing?

Originally published on Fri March 9, 2012 9:51 am

A welder at Specialty Fab in North Lima, Ohio, works March 1 on a piece of a compressor skid frame that is bound for the Ohio Shale project. Manufacturing companies such as Specialty Fab could receive tax breaks if a proposal from the Obama administration goes through.
Jim Watson AFP/Getty Images

The White House says restoring the U.S. manufacturing sector is an essential part of getting the economy back on track.

GOP candidate Rick Santorum wants to see tax breaks for manufacturing companies, and the Obama administration proposed something similar last week. But economists say tax breaks may not be the best way to help manufacturers right now.

Over the years, the steady loss of good factory jobs is a big reason why wages have stagnated for people who never went to college, says Dean Baker, co-director of the Center for Economic and Policy Research.

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12:01pm

Thu February 23, 2012
Business

Obama's Corporate Tax Cut Plan Faces Uphill Battle

Boeing employees work on a plane engine at the company's factory in Everett, Wash. The Obama administration's corporate tax cut proposal would offer even deeper cuts for U.S. manufacturers like Boeing.
Stephen Brashear Getty Images

President Obama's plan to overhaul the nation's corporate tax system would sharply cut the taxes that U.S. companies pay. But it would also eliminate many of the loopholes that help them pare down what they owe.

White House spokesman Jay Carney says the proposal unveiled Wednesday should appeal to both Democrats and Republicans, by doing what both sides "say is important to do ... which is lower the rate, broaden the base [and] eliminate the underbrush of unnecessary subsidies and loopholes and special provisions that complicate the tax code."

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11:01pm

Sun February 19, 2012
Business

Bondholders To Take A Hit In Greece Bailout Plan

European finance ministers are expected to vote on the latest $171 billion bailout package for Greece Monday. The package needs to be approved so Greece can make payments on bonds that come due a month from now. Even if the bailout is approved, it is likely to be only a temporary solution to Greece's troubles.

Across the Atlantic in New York, Hans Humes likes to ride his bike from his home in Brooklyn to his office at Greylock Capital Management in Manhattan. On a recent morning he showed up for our interview still carrying his bike helmet.

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11:00am

Wed February 15, 2012
Shots - Health Blog

Does Contraception Really Pay For Itself?

Birth control will be paid for by employees' insurance companies, if their employers refuse to do so.
istockphoto.com

Last week, President Barack Obama announced that religious groups won't have to pay for contraceptive services themselves. Instead, the cost would be borne by their insurance companies.

That compromise has raised a whole new set of questions on its own, though.

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