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.

Last week's Brexit vote sent financial markets tumbling around the world, wiping out months of stock market gains and pushing the British pound down to levels not seen in more than three decades. It also raised tough questions about the future of the United Kingdom's economy, especially with the resignation of Prime Minister David Cameron and the ensuing political turmoil. "Nobody quite knows what sort of government's going to come in, and that uncertainty absolutely discourages consumer...

Last week's vote by the United Kingdom to leave the European Union is raising questions about London's role as a global financial center, which has helped send bank stocks down sharply for a second trading day in a row. Shares of British banks such as Barclay's and Royal Bank of Scotland are down, but the carnage has spread throughout Europe and beyond, amid a series of earnings downgrades and profit warnings. Investors are worried about the immediate impact that the British exit, or Brexit ,...

When British voters go to the polls on Thursday to decide whether the United Kingdom should remain in the European Union, a lot of people on this side of the Atlantic will be watching as well. U.S. companies with large operations in the U.K., such as Cisco, JPMorgan Chase, Ford and General Electric, have already spoken out against "Brexit," even hinting that it could force them to lay off workers. JPMorgan Chase CEO Jamie Dimon generated headlines recently when he told employees at his...

In more and more countries, investors are paying the government for the privilege of owning its bonds. It's usually the other way around. The yield on Germany's 10-year government bond fell into negative territory for the first time ever on Tuesday, as worries build that the United Kingdom could decide to leave the European Union next week. Interest rates on government debt also fell in other countries, such as Japan and the United States, after new polls indicated that support for a so...

Editor's note, June 16 : An earlier version of this story said Omar Mateen carried an AR-15, based on comments from Orlando Police Chief John Mina, who said Sunday that the gun was an "AR-15-assault-type rifle." Law enforcement officials subsequently told NPR that the gun was a Sig Sauer MCX, a rifle similar to an AR-15 but also different in fundamental ways. This story reflects the change. When Omar Mateen embarked on his deadly rampage at a gay nightclub in Orlando early Sunday, he carried...

A lot of famous and important people have felt the sting of Donald Trump's invective in recent months, including former Massachusetts Gov. Mitt Romney, British Prime Minister David Cameron and even the pope. And then there's Bob Guillo, of Manhasset, N.Y. The 76-year-old Long Island retiree found himself singled out by Trump in a speech on May 27 because he had criticized Trump University, one of the presumptive Republican presidential nominee's most controversial business ventures. Guillo...

Maurice "Hank" Greenberg, who built AIG into an insurance-industry powerhouse only to be forced out under pressure from regulators, must stand trial for accounting fraud, New York's highest court has ruled . The New York Court of Appeals ruled that state officials can try to recover millions of dollars in bonuses and interest from Greenberg, 91, and his co-defendant, Howard Smith, 71, former AIG chief financial officer. It can also bar the men from the securities industry and prevent them...

Shareholders of Exxon Mobil and Chevron have voted to reject a series of resolutions aimed at encouraging the companies to take stronger actions to battle climate change. But Exxon Mobil shareholders voted in favor of a rule that could make it easier for minority shareholders to nominate outsiders to the company's board, a potential victory for environmentalists. Activist shareholders at both companies had placed an unusual number of resolutions on the ballot related to climate change. The...

Monsanto has rejected a $62 billion takeover bid from Bayer as "incomplete and financially inadequate," but left the door open to further negotiations with the German chemical and pharmaceutical giant. "We believe in the substantial benefits an integrated strategy could provide to growers and broader society, and we have long respected Bayer's business," Monsanto Chairman and CEO Hugh Grant said in a statement . "However, the current proposal significantly undervalues our company and also...

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Matt Coy likes to tell people how he went 47 years without voting. Not once. Not even for high school class president. But there he was last Friday at an early-voting center at a county parks building in Columbus, Ind., excitedly preparing to cast his ballot for Republican Donald Trump. "I've lost three factory jobs in the last 10 years, to go to China or go to Mexico or go to somewhere out of the country. We're losing our jobs to everybody else. We need 'em back. I think he can do it," Coy...

Three years after an eight-story factory building collapsed in Bangladesh, killing more than 1,100 people and injuring 2,000 others, union leaders and relatives of the victims say not enough has been done to compensate those affected. "Three years have passed and still we don't see any justice. No one has been held to account for one of history's worst man-made disasters," union leader Abul Hossain said at a commemorative protest at the site of the disaster. D ozens of people took part in the...

Top executives at the biggest Wall Street firms would have to wait four years to collect most of their bonus pay and could be forced to return the money in the event of wrongdoing, under proposed rules unveiled by federal regulators. The rules, which were released Thursday by the National Credit Union Administration for public comment, say senior executives at firms worth more than $250 billion must wait to collect 60 percent of their bonus pay. Executives at firms valued at $50 billion to ...

The European Union has filed new antitrust charges against Google, alleging that it uses its Android operating system to impose unfair conditions on makers of mobile devices. " We found that Google pursues an overall strategy on mobile devices to protect and expand its dominant position in internet search," Margrethe Vestager, the EU's commissioner for competition, said in a statement today. She accused the company of imposing unjustified restrictions and conditions on devices using its...

Sen. Bernie Sanders says that if he is elected president in November, one of his first acts in office would be to begin breaking up the large financial institutions that pose a grave risk to the economy. But there's a problem with that idea: It's not clear the president has the legal authority to break up the banks. "It's not something the president can do. It's not even something the Treasury can do," says Karen Shaw Petrou, managing partner of Federal Financial Analytics. Banks are largely...

The leaking of more than 11 million documents from Panamanian law firm Mossack Fonseca earlier this month cast new light on the arcane world of offshore shell companies, long a favorite hiding place for the very rich. But actually setting up a shell corporation turns out to be something that any average Joe can do . In fact, you can do it in just a little more time than it takes to open an email account, with the help of one of the army of law firms and financial advisers that specialize in...

Goldman Sachs has become the latest big bank to agree to a multibillion-dollar settlement over the way it packaged and sold mortgage-backed securities in the heady days of the housing boom. The Justice Department said Monday that Goldman had agreed to pay $5.06 billion over its conduct in the packaging and sale of residential mortgage-backed securities between 2005 and 2007. Investors lost billions of dollars during the period by purchasing securities based on mortgages that were often much...

Poor people who reside in expensive, well-educated cities such as San Francisco tend to live longer than low-income people in less affluent places, according to a study of more than a billion Social Security and tax records. The study , published in JAMA , the Journal of the American Medical Association, bolsters what was already well known — the poor tend to have shorter lifespans than those with more money. But it also says that among low-income people, big disparities exist in life...

Poor people who reside in expensive, well-educated cities such as San Francisco tend to live longer than low-income people in less affluent places, according to a study of more than a billion Social Security and tax records. The study , published in JAMA , the Journal of the American Medical Association, bolsters what was already well known — the poor tend to have shorter lifespans than those with more money. But it also says that among low-income people, big disparities exist in life...

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Donald Trump first made his mark in the mid-1970s by purchasing the venerable Commodore Hotel in Midtown Manhattan and covering it with stainless steel and glass. It was the beginning of a long, carefully planned campaign to create a Trump brand of glitz and glamour — one that he would attach to everything from champagne to neckties. Now some people think that the mud-slinging presidential campaign may have seriously damaged Trump's brand, especially with the high-income crowd he caters to. ...

U.S. companies will find it much harder to reduce their taxes by merging with foreign firms under new rules introduced by the Obama administration, and that's already throwing the fate of one big deal in doubt. Shares of Allergan were down sharply Tuesday, as investors questioned whether its $150 billion merger with pharmaceutical giant Pfizer will still take place. The Treasury Department on Monday introduced rules aimed at reducing the incentives for companies to carry out inversions. That...

General Electric wants to be removed from the federal government's list of too-big-to-fail financial institutions, arguing that it's no longer a major player in the financial services industry. If the company's request to the Financial Stability Oversight Council is granted, GE would not have to hold as much capital against financial losses and would face significantly less federal regulation. The request comes one day after a federal judge ruled that MetLife should no longer be considered a...

Over the past few decades, New York City has become safer, richer and a lot more crowded than it used to be. All over Manhattan these days, you can see apartment buildings going up — and yet finding a decent place to live has become tougher than ever. "We are in an official housing crisis, period, in New York City," says Alicia Glen, New York City's deputy mayor for housing and development. "Our population is growing much more rapidly than our housing stock and so we have a really imbalanced...

Like other presidential candidates before him, Donald Trump is under pressure to release his tax returns. Former GOP presidential candidate Mitt Romney (who faced tax disclosure issues of his own) even suggested this week that Trump was refusing to do so because they contain a "bombshell." At Thursday's Republican debate in Houston, Trump explained that he cannot release his returns because he is being audited by the Internal Revenue Service. The Claim "I will absolutely give my return, but I...

The most prosperous parts of the U.S. have recovered nicely from the 2008 financial crisis, but many other places remain mired in high unemployment and poverty, according to a report measuring wealth levels by ZIP code. "The United States is still a land of opportunity for many. But when it comes to life outcomes, geography is too often destiny," says a report from the Economic Innovation Group , a research organization. Despite the economic recovery, the report says, life for those in the...

Too-big-to-fail banks are generating plenty of anger from the public, but former Secretary of State Hillary Clinton says the real risks to the financial system lie in the vast, lightly regulated corners of the economy called shadow banks. Under fire for her ties to Wall Street, Clinton increasingly has talked about the need to crack down on the hedge funds, private equity firms, money market funds and derivatives traders that perform many of the same functions as banks without being regulated...

U.S. health regulators acknowledged they miscalculated the amount of formaldehyde emitted from some of Lumber Liquidators' laminated floor products. Shares of the company fell sharply Monday on the news. The Centers for Disease Control And Prevention says the risk of cancer is three times higher than it previously estimated, and it strongly urged Lumber Liquidators customers to take steps to reduce exposure to the substance. The company no longer sells the Chinese-made, laminate products. The...

As Bernie Sanders sees it, Wall Street got a big boost when U.S. taxpayers bailed out some of the largest financial institutions in 2008. Now it's time for Wall Street to return the favor. Sanders has proposed something he calls a speculation tax, a small levy on every stock, bond or derivative sold in the United States. The revenue would go toward free tuition at public colleges and universities and would also be used to pare down student debt and pay for work-study programs, as well as...

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