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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Economy
5:09 pm
Thu January 23, 2014

Study: Upward Mobility No Tougher In U.S. Than Two Decades Ago

The study did reveal widespread disparity in upward mobility based on geography. For those hoping to climb the economic ladder, San Francisco is one of the best places to live, the study found.
Justin Sullivan Getty Images

Originally published on Fri January 24, 2014 3:32 pm

A new study finds that contrary to widespread belief, it's no harder to climb the economic ladder in the United States today than it was 20 years ago.

But the study did find that moving up that ladder is still a lot more difficult in the U.S. than in other developed countries.

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Business
3:23 am
Wed January 22, 2014

Banks Challenged By Economy Despite Positive Earnings

Originally published on Wed January 22, 2014 6:12 am

Transcript

STEVE INSKEEP, HOST:

Over the past week or so, most of the country's banks have reported their profits for the last quarter of 2013. The numbers, mostly, have better than most analysts expected. After a rough few years, most big financial institutions are faring pretty well. But there's some debate about how sustainable the numbers really are.

NPR's Jim Zarroli reports.

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Health Care
3:12 pm
Tue January 14, 2014

The Young And Restless May Cause Drama For ACA

Originally published on Tue January 14, 2014 4:33 pm

Transcript

MELISSA BLOCK, HOST:

After a slow start, the Affordable Care Act is now attracting customers at a healthier pace. The government said yesterday that 2.2 million people have signed up for health insurance under the state and federal exchanges. But there's a serious red flag. A disproportionate number of new enrollees are middle aged or older.

Here's NPR's Jim Zarroli on what that means for the program and for insurers.

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Law
3:39 pm
Tue January 7, 2014

JPMorgan Settles With U.S. Government Over Role In Madoff Schemes

Originally published on Tue January 7, 2014 6:40 pm

JPMorgan Chase has agreed with the U.S. government to settle criminal charges that it failed to report suspicious activity in Bernard Madoff's accounts. The settlement comes to $2.6 billion, but a representative for Madoff's victims says the amount is too small. Madoff bilked investors out of many billions of dollars while JP Morgan Chase was his primary bank.

Business
12:19 pm
Tue January 7, 2014

JPMorgan Chase Settles Madoff Case For $1.7 Billion

Originally published on Wed January 8, 2014 4:56 am

JPMorgan Chase & Co. has agreed to pay $1.7 billion to settle criminal charges accusing the bank of ignoring obvious warning signs of Bernard Madoff's massive Ponzi scheme.

Economy
2:55 pm
Tue December 31, 2013

2013 Was A Tremendous Year...At Least For The Stock Market

Originally published on Wed January 29, 2014 9:20 am

Transcript

ROBERT SIEGEL, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

2013 was a so-so time for the U.S. economy, but it was a banner year for the stock market. Investors poured money into stocks, driving up prices to record highs. The Dow Jones Industrial Average finished the year up 26 percent. The S&P 500 did even better. NPR's Jim Zarroli looks at how the market defied expectations.

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Economy
3:16 am
Fri December 27, 2013

Interest Rates Move Higher On Signs Of Improving Economy

Originally published on Fri December 27, 2013 6:06 am

Transcript

DON GONYEA, HOST:

Other signs of strength in the economy are sending interest rates higher. Yesterday, the yield on the 10-year Treasury note briefly rose above the psychologically important level of 3 percent.

NPR's Jim Zarroli has that story.

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Health Care
2:22 pm
Mon December 23, 2013

Insurers Dismayed Over Obamacare Rule Changes

Originally published on Mon December 23, 2013 3:56 pm

At the last minute, the Obama administration gave consumers more time to sign up for health insurance starting Jan. 1. People will now have until the end of Christmas Eve, giving them an additional day. The administration hopes a late surge of enrollments will boost numbers, which have lagged far behind expectations. The insurance industry is hoping the same thing. But it is also expressing dismay over recent changes to the law that allow some people to opt out of the individual mandate or purchase plans otherwise prohibited under the law.

Business
12:30 am
Mon December 23, 2013

After Target's Data Breach, Customer Incentive Disappoints

Justin Sullivan Getty Images

Originally published on Mon December 23, 2013 7:06 am

Target is trying to get back in its customers' good graces after a massive data breach affecting some 40 million credit and debit account holders. The giant retail chain offered its customers a 10 percent discount over the weekend as an act of atonement, but business was said to be down anyway.

The breach affected customers who used their credit and debit cards at one of Target's 1,750 stores during a three-week period after Thanksgiving.

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Europe
4:56 pm
Sun December 15, 2013

Ireland Exits Bailout Program, But Economy Still On The Mend

On Sunday, Ireland became the first country to formally exit the bailout program funded by the International Monetary Fund and the European Union.
Peter Muhly AFP/Getty Images

Originally published on Mon December 16, 2013 6:24 am

Ireland was one of the countries hardest hit by Europe's debt crisis. On Sunday, it passed a big milestone when the nation became the first country to formally exit the bailout program funded by the International Monetary Fund and the European Union.

After three years of the bailout program, it isn't hard to find signs of improvement in Ireland and of an economy coming back from the dead.

"Don't get me wrong, it's been bad in a lot of ways, but there's a silver lining in every cloud," says Conor Mulhall, a 41-year-old father of three.

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Business
2:29 pm
Tue December 10, 2013

Regulators Tighten Bank Rules To Curb Risky Wall Street Trades

Originally published on Wed December 11, 2013 10:30 am

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

MELISSA BLOCK, HOST:

And I'm Melissa Block.

Federal regulators today approved a tough new set of restrictions on the kinds of trading that banks can do. The so-called Volcker rule largely prohibits FDIC-protected banks from trading securities for their own financial gain. It's part of the Dodd-Frank overhaul passed three years ago.

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Business
5:29 am
Tue December 10, 2013

High Stakes For Banks As Volcker Rule Is Finalized

Originally published on Tue December 10, 2013 10:11 am

Transcript

RENEE MONTAGNE, HOST:

This is MORNING EDITION from NPR News, I'm Renee Montagne.

STEVE INSKEEP, HOST:

And I'm Steve Inskeep. Federal regulators have unveiled the final version of what has come to be called the Volcker Rule. It's a big part of the financial reform that went into affect three years ago. It's taken all those years to come up with the language that will set new limits on the kinds of trading that banks can do and cannot do. NPR's Jim Zarolli joins us now to talk about this. Hi Jim.

JIM ZAROLLI, BYLINE: Hi.

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Business
6:18 am
Mon December 9, 2013

WTO Nations Say Deal Will Boost Global Trade

Transcript

DAVID GREENE, HOST:

Officials of 159 countries have taken a big step forward in promoting global trade. This happened over the weekend at World Trade Organization talks in Indonesian.

STEVE INSKEEP, HOST:

Here's NPR's Jim Zarroli.

JIM ZARROLI, BYLINE: The countries attending the WTO meeting agreed to a treaty that they say will lower trade barriers and speed up the passage of goods across borders. Officials say the deal could increase global trade by nearly a trillion dollars over time and also create millions of jobs.

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Economy
5:58 am
Sun December 8, 2013

NAFTA Turns 20, To Mixed Reviews

Originally published on Mon December 16, 2013 11:15 am

Transcript

RACHEL MARTIN, HOST:

It has been almost 20 years since the U.S. Congress approved the North American Free Trade Agreement - New Year's Day to be precise. It was an agreement that was met with all kinds of controversy. Over the next few weeks, NPR will be airing a series of stories looking back at NAFTA. This morning, NPR's Jim Zarroli tackles one of the first assumptions about NAFTA, that it would send a wave of American jobs to Mexico, where labor is cheaper.

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Around the Nation
3:43 pm
Sun December 1, 2013

The Latest From The New York Train Derailment

Originally published on Sun December 1, 2013 5:55 pm

Transcript

ARUN RATH, HOST:

It's ALL THINGS CONSIDERED from NPR West. I'm Arun Rath.

A commuter train derailed as it was heading into Manhattan this morning, killing four people and injuring more than 60. Witnesses say the train appeared to be going too fast as it rounded a curve just north of a train station in the Bronx. The National Transportation Safety Board is trying to piece together what happened.

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Health Care
5:47 am
Sat November 30, 2013

A New Worry Looms Online For The Affordable Care Act

Insurance companies say they are finding numerous mistakes on a digital form that's essential for signing up through HealthCare.gov.
AP

Originally published on Sat November 30, 2013 1:13 pm

Saturday is the day the Obama administration promised it would have HealthCare.gov working smoothly for the majority of people who need to sign up for health insurance.

As the Obama administration scrambles to fix the glitch-plagued site, experts are beginning to worry about another problem that may further impair the rollout of the Affordable Care Act.

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Business
3:03 am
Wed November 27, 2013

Men's Wearhouse Goes 'Pac-Man' On Joseph A. Bank

Originally published on Wed November 27, 2013 3:25 am

The retail company Men's Wearhouse has announced it is launching a takeover battle for rival Joseph A. Bank. What makes the effort unusual is that just last month Joseph A. Bank was trying to take over Men's Wearhouse. The turnaround is an example of what Wall Street calls a Pac-Man defense.

Business
3:27 pm
Fri November 22, 2013

JPMorgan Says It Broke No Law. So Why Pay The $13 Billion?

The U.S. government says JPMorgan Chase & Co. knowingly sold faulty mortgage-backed securities in the years leading up to the financial crisis. The bank says it's broken no laws.
Emmanuel Dunand AFP/Getty Images

Originally published on Fri November 22, 2013 11:20 pm

State and federal regulators have hailed Tuesday's $13 billion settlement with JPMorgan Chase & Co. over faulty mortgage assets it sold in the years leading up to the financial crisis as a big victory for the judicial system.

But like other big settlements to emerge from the financial crisis, the deal leaves unclear just what the bank did wrong.

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Business
3:04 am
Thu November 21, 2013

Obama, State Insurance Commissioners Talk Policy Extensions

Originally published on Thu November 21, 2013 4:55 am

President Obama met with state insurance commissioners to discuss changes to the implementation of the Affordable Care Act. Some commissioners are in a difficult spot because their states passed laws that prohibit policies that don't comply with the law. Now, the president says companies can keep offering non-compliant policies for another year if they want to.

Business
3:37 pm
Tue November 19, 2013

JPMorgan, Feds Finalize Record $13 Billion Mortgage Settlement

Originally published on Tue November 19, 2013 3:54 pm

A long-awaited deal between JP Morgan Chase and the Justice Department was finalized Tuesday. The bank — one of Wall Street's largest — agreed to pay a total of $13 billion to resolve a number of legal issues stemming from mortgage securities sold in the run-up to the financial crisis.

Business
2:50 am
Fri November 15, 2013

Health Care Cancellation Cure Could Lead To Higher Premiums

Originally published on Fri November 15, 2013 8:49 am

The health care fix announced by President Obama on Thursday may be good news for some consumers, but it creates a big headache for insurance companies and regulators. An insurance industry trade group warns the last-minute change could destabilize the market and lead to higher premiums.

Business
3:31 pm
Tue November 12, 2013

Justice Department Approves American, U.S. Airlines Merger

Originally published on Tue November 12, 2013 3:56 pm

The Justice Department approved an airline merger Tuesday that will create the world's largest carrier. AMR, the parent of American Airlines, and U.S. Airways agreed to divest a number of slots and gates at key airports in order to enhance competition.

Business
2:51 pm
Mon November 11, 2013

Race For Same-Day Delivery Could Be Boon For Cash-Strapped USPS

Originally published on Mon November 11, 2013 3:52 pm

Transcript

AUDIE CORNISH, HOST:

While large-scale government IT contracts have a terrible track record, Amazon is a company that has made its reputation for delivering on time. And it's always looking for more ways to shorten the time between online ordering and delivery. Well, today, Amazon announced it's partnering with U.S. Postal Service to expand Sunday delivery options.

NPR's Jim Zarroli reports that for the financially strapped Postal Service it's an opportunity to take a bigger role in the lucrative online retailing market.

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Around the Nation
3:01 pm
Wed November 6, 2013

New Jersey Votes To Increase Minimum Wage

Originally published on Wed November 6, 2013 4:21 pm

Transcript

MELISSA BLOCK, HOST:

New Jersey Governor Chris Christie is celebrating an impressive reelection victory but he also suffered a defeat. Voters handily approved a measure to raise the state's minimum wage. That's a measure Christie had opposed.

As NPR's Jim Zarroli reports, New Jersey is the fifth state this year to raise the minimum wage.

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Business
2:42 am
Wed November 6, 2013

Sprecher Slams High-Speed Electronic Exchanges

Originally published on Wed November 6, 2013 3:26 am

The CEO of the firm that's about to take over the New York Stock Exchange has criticized alternative market trading. Jeffrey Sprecher said equity markets, including the NYSE, allow sophisticated traders to take advantage of small investors. He added such models are destined to fail and that people outside the markets have a sense things aren't fair.

Business
2:42 pm
Mon November 4, 2013

SAC Capital To Pay $1.2 Billion Insider Trading Settlement

Originally published on Mon November 4, 2013 5:42 pm

Transcript

AUDIE CORNISH, HOST:

As we mentioned a few minutes ago, the hedge fund company SAC Capital has agreed to plead guilty to criminal charges of insider trading. The agreement with the Justice Department also calls for a huge fine, $1.2 billion. And as NPR's Jim Zarroli reports, the company will also be barred from taking money from outside investors.

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Economy
3:07 pm
Wed October 30, 2013

Fed, Citing A Still-Struggling Economy, Will Keep Buying Bonds

Originally published on Wed October 30, 2013 4:00 pm

Federal Reserve policymakers wrapped up their two-day October meeting Wednesday by announcing that they will maintain the Fed's $85 billion per month bond purchase program. The central bank's statement said that conditions in the labor market have "improved" and inflation is modest. But, in explaining the decision to maintain the stimulus, the statement pointed to a slowing housing market and said that fiscal policy is "restraining economic growth."

Politics
3:37 pm
Wed October 9, 2013

Obama Makes Janet Yellen His Official Choice To Head The Fed

Janet Yellen is President Obama's choice to replace Ben Bernanke at the Federal Reserve. The announcement came Wednesday afternoon. If confirmed by the Senate, Yellen will be the first woman to lead the Fed.

Business
2:44 am
Wed October 9, 2013

Treasury Officials Mull Credit Default Solutions

Originally published on Wed October 9, 2013 3:44 am

The Treasury Department says it will begin running out of money to pay its bills by Oct. 17, if the partial government shutdown isn't over by then. That prospect worries the financial markets. Treasury debt plays a fundamental role in the global economy, and economists agree that a debt default would have dire consequences. But some Republicans insist that a default doesn't have to happen.

Politics
2:44 am
Wed October 9, 2013

Obama To Nominate Yellen To Lead Federal Reserve

Originally published on Wed October 9, 2013 3:03 am

The White House says President Obama will nominate Janet Yellen as the new head of the Federal Reserve Board. She has been a key player in the Fed's efforts to bring the economy back from the Great Recession. If confirmed, she would succeed Ben Bernanke.

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