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.

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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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.

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.

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.

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."

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.

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.

Cutting taxes is part of the DNA of the modern Republican Party. All four of the remaining GOP candidates for president have proposed steep cuts in business and personal taxes, and it sometimes seems like Republicans are competing to show the most enthusiasm for tax cuts.

At a debate last month, former Sen. Rick Santorum said tax cuts were needed to get the economy thriving again — even if they benefit the wealthy.

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As the U.S. economy struggled to get back on its feet over the past few years, a lot of states found themselves contending with big budget deficits. They responded by firing workers, raising taxes and cutting spending. Now the fiscal picture for a lot of states is brightening a bit — but many still face enormous challenges.

The end could soon be near for Kodak, and the iconic film manufacturer may have itself to blame.

Kodak, based in Rochester, N.Y., could be headed into bankruptcy over the next few weeks. The company has seen its profits plunge in recent years, largely because of the popularity of digital cameras.

Kodak is trying to move into new product lines like inkjet printers, but in the meantime it's attempting to raise cash by selling off some of the patents it's developed over the years.

2011 was a year of crisis and revolution, and that took a big toll on the world's financial markets. In the United States, stocks lurched along for much of the year, losing and gaining ground over and over again.

Stock prices are ending the year just about where they were at the beginning, and anyone who invested in anything but the bluest of blue chip stocks probably didn't make much money. And yet, the flat trend lines masked a huge amount of volatility, says Jack Ablin, chief investment officer of Harris Private Bank.

The debt crisis in Europe got under way in small, heavily indebted countries like Greece and Ireland, but these days it's also being felt in the wealthy heartland.

The Dutch government says the country probably slipped into a recession at the end of this year, and like other countries, it's having to consider budget cuts.

Ever since Fannie Mae and Freddie Mac were taken over by the government in 2008, questions have swirled over who was responsible for their collapse. Friday, the Securities and Exchange Commission weighed in, filing fraud charges against former Fannie Mae CEO Daniel Mudd, former Freddie Mac CEO Richard Syron and four other former executives.

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As the European debt crisis drags on, one question being asked is what will happen to Italy. The new government of Prime Minister Mario Monti is struggling to convince the financial markets that the country has a plan to pay its debts. Among other things, Monti says he will do something about Italy's long tradition of tax evasion, which is considered somewhat of a national sport.

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The pharmaceutical company Merck has agreed to pay nearly a billion dollars to settle charges that it illegally marketed its painkiller, Vioxx. The drug was taken off the market in 2004 after questions were raised about its safety. NPR's Jim Zarroli reports.

Enrico Frare isn't a well-known name in Italian business. The 36-year-old runs E-group, a small clothing company in the commercial region around Treviso that makes winter sportswear.

But last month, Frare did something that attracted a lot of attention. He bought a full-page ad in Milan's main newspaper appearing in what might politely be called his birthday suit. The caption read: "Every day in Italy an entrepreneur risks losing his shirt."

The Labor Department announced last week that the U.S. economy grew by just 103,000 jobs in September. A number like that isn't even enough to keep up with population growth. The fact that the report was widely greeted as positive news suggests just how low expectations have sunk this year.

Since January, the U.S. economy has been hit by a series of external shocks that brought a modest recovery nearly to a halt. The slowdown, however, may have been under way even before the shocks took place.

Last weekend, pizza magnate Herman Cain did something that surprised the political world: He came in first in a Florida GOP presidential straw poll.

One way Cain has attracted the attention of Republican voters is with what he calls his 9-9-9 plan. It's a cleverly marketed idea for changing the nation's tax code.

No company suffered on Sept. 11 as much as the bond broker Cantor Fitzgerald, which lost 658 people. One of the few employees to survive that day was Lauren Manning, who was in the lobby of the World Trade Center's North Tower when the first plane hit.

Manning had been rushing to an elevator and was instantly engulfed in flames that came into the lobby, leaving her with burns on more than 80 percent of her body.

Warren Buffett came to the rescue of Bank of America, the giant financial services company that faces a range of legal and financial problems. Buffett said Thursday he would invest $5 billion in the company and could buy more shares down the road. Buffett's decision to buy into Bank of America sent its share price higher, though the company still has to contend with big challenges.

Stock prices lost more ground Friday, but the losses were small compared with Thursday and the stomach-churning drops of the week before.

The Dow Jones industrial average fell 173 points, or about 1.6 percent, after big drops in Asia and Europe. The sell-off has come amid worries about a global economic slowdown

But many people believe the decline has been aggravated by the explosion of high-speed trading.

Google's plans to buy Motorola Mobility for $12.5 billion might seem like a lot of money, but the Web giant can easily afford it. At the end of last year, Google was sitting on nearly $35 billion in cash.

And it's not alone. The U.S. economy may be slowing to a crawl, but a lot of individual companies are richer than ever. They're being cautious about how they spend their cash, though.

"Companies are generating and maintaining more cash than they have aggregate uses for," says Rick Lane, a senior vice president at Moody's.

The turmoil on Wall Street threatens to wreak financial havoc on a lot of people and institutions — including the country's 1.2 million nonprofits. Charities of all sizes are only beginning to recover from the recession. Now many are wondering how they'll survive another market plunge.

Camp Henry on Manhattan's Lower East Side is run by the venerable Henry Street Settlement, which provides a range of social services for low-income New Yorkers. Executive Director David Garza says after the 2008 financial crisis, corporate donations to the agency fell off.

The Federal Reserve has issued one of its gloomiest pronouncements about the economy in a long time: It says it sees little prospect that growth will rebound much anytime soon, and that it's ready to keep interest rates low for the next two years.

The recent downturn leaves Fed officials without any of its obvious ways of fixing the economy, and analysts say it may need to try steps it hasn't taken before.

Joe Gagnon spent part of his career as a Fed economist, and Tuesday he saw something he thought he'd never see at the central bank.

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