Jim Zarroli | New Hampshire Public Radio

Jim Zarroli

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.

Over the years, he has reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders, and Ponzi schemers. Most recently, he has focused on trade and the job market. He also worked as part of a team covering President Trump's business interests.

Before moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position, he reported from the United Nations and was also involved in NPR's coverage of Hurricane Katrina, the London transit bombings, and the Fukushima earthquake.

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

He lives in Manhattan, loves to read, and is a devoted (but not at all fast) runner.

Zarroli grew up in Wilmington, Delaware, in a family of six kids and graduated from Pennsylvania State University.

Updated at 5 p.m. ET

The partial shutdown of the government reduced federal spending by about $3 billion and cut into overall U.S. economic growth, according to a report released Monday by the nonpartisan Congressional Budget Office.

The report says that because of the shutdown, which lasted from Dec. 22 through last Friday, about $18 billion in discretionary government spending was delayed. Most of the money will be spent later, now that the shutdown has ended.

The stock market has left many investors struggling to catch their breath.

Just last Wednesday, the Dow Jones Industrial Average gained a record 1,086 points, after sliding 653 points on Christmas Eve. And there were many more days, when the markets swung by hundreds of points. In general, 2018 was a unusually bumpy year for markets.

Steve Heimoff remembers coming home from a restaurant December 10, 2008, to find an email from a cousin with the words "Bad news" in the subject line.

The $2 million retirement nest egg he had counted on was suddenly wiped out, as was much of the savings of his relatives, casualties of the multibillion-dollar Bernie Madoff scam that was dominating the headlines.

Updated at 9:01 a.m. ET Wednesday

Stock prices tumbled Tuesday amid investor fears about trade, wiping out the gains that followed the Trump administration's decision to delay higher tariffs on imports from China.

The Dow Jones Industrial Average dropped 799 points, losing 3.1 percent of its value, while the S&P 500 index fell 3.2 percent. The Nasdaq composite index plunged 3.8 percent.

In another worrisome sign for the economy, the interest rate on short-term U.S. Treasury securities actually rose above that of longer-term instruments.

Updated at 9:01 a.m. ET Wednesday

Stock prices tumbled Tuesday amid investor fears about trade, wiping out the gains that followed the Trump administration's decision to delay higher tariffs on imports from China.

The Dow Jones Industrial Average dropped 799 points, losing 3.1 percent of its value, while the S&P 500 index fell 3.2 percent. The Nasdaq composite index plunged 3.8 percent.

In another worrisome sign for the economy, the interest rate on short-term U.S. Treasury securities actually rose above that of longer-term instruments.

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Stock prices took a sharp plunge Tuesday, for the second day in a row.

The Dow Jones Industrial Average has fallen a total of 950 points, or 4 percent, in the past two days. The major stock market indexes are now negative for the year.

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The New York Attorney General's Office is urging a state court not to dismiss its lawsuit against President Trump's charitable foundation, saying the foundation has repeatedly violated state and federal laws.

Attorney General Barbara Underwood said the Donald J. Trump Foundation "was a shell corporation that functioned as a checkbook from which the business entity known as the Trump Organization made payments."

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The trade war between the U.S. and China has been tough on soybean farmers here in the U.S. For many of them, China is their biggest market. NPR's Jim Zarroli has been visiting with a farm family in North Dakota.

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President Trump is taking aim at Federal Reserve Chairman Jerome Powell, saying he is unhappy over the central bank's decision to raise interest rates.

"I'm not thrilled with his raising of interest rates, no. I'm not thrilled," Trump told Reuters in an interview.

President Trump is ratcheting up trade tensions with China, threatening to increase proposed tariffs on Chinese imports from 10 percent to 25 percent.

The higher tariffs, which would apply to some $200 billion in Chinese imports identified by the administration last month, represent an effort to get Beijing to address longstanding unfair trade practices, officials say.

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A federal judge has ordered China's largest wind-turbine firm, Sinovel, to pay $59 million for stealing trade secrets from a Massachusetts-based technology company.

Updated at 5:32 a.m. ET Friday

In imposing tariffs on $34 billion worth of Chinese imports that took effect Friday, the Trump administration says it is hoping to strike a blow against long-standing abusive trade practices by the Beijing government.

But for now, the blows are threatening to land hardest on non-Chinese companies like New Jersey-based Snow Joe/Sun Joe.

The Trump administration is doubling down on its trade rhetoric, even as other countries ready tariffs on American goods and U.S. business groups part company with the president over his trade policies.

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Updated at 8:08 p.m. ET

President Trump is unhappy with Harley-Davidson's plans to move production of motorcycles it sells in Europe overseas, in response to growing trade friction between the United States and Europe.

In a tweet sent out Monday afternoon, Trump said he was surprised that Harley-Davidson "of all companies, would be the first to wave the White Flag. I fought hard for them...."

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Big banks are skirting the rules on the sale of the complex financial instruments that helped bring about the 2008 financial crisis, by exploiting a loophole in federal banking regulations, a new report says.

The loophole could leave Wall Street exposed to big losses, potentially requiring taxpayers to once again bail out the biggest banks, warns the report's author, Michael Greenberger, former director of trading and markets at the Commodity Futures Trading Commission.

The widening political crisis in Italy sent stock prices falling around the world Tuesday, with the Dow Jones industrial average losing 1.8 percent of its value.

European bank stocks were among the hardest hit, with Italy's Unicredit and Spain's Santander down by more than 5 percent, but U.S. banks were also hit.

As stocks plunged, investors poured money into safe havens. U.S. Treasury yields saw their biggest one-day drop in two years and the dollar gained ground against the euro.

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