Chris Arnold

NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered, and Weekend Edition. He joined NPR in 1996, and was based in San Francisco before moving to Boston in 2001.

Most recently, Arnold has been reporting on financial challenges facing millions of working and middle class Americans as the economy continues to recover from the worst recession in generations.

Arnold was honored with a 2017 George Foster Peabody Award for his coverage of the Wells Fargo banking scandal. His stories sparked a Senate inquiry into the bank's treatment of employees who tried to blow the whistle on the wrongdoing. Arnold also won the National Association of Consumer Advocates award for Investigative Journalism for a series of stories he reported with ProPublica that exposed improper debt collection practices by non-profit hospitals who were suing thousands of their low-income patients.

Arnold is now serving as the lead reporter and editor for the ongoing NPR series "Your Money and Your Life", which explores personal finance issues. As part of that, he's reporting on the problem of Wall Street firms charging excessive fees in retirement accounts: fees that siphon billions of dollars annually from Americans trying to save for the future. For this series, Arnold won the 2016 Gerald Loeb Award which honors work that informs and protects the private investor and the general public. UCLA calls the award the most prestigious in financial journalism.

Following the 2008 financial crisis and collapse of the housing market, Arnold reported on problems within the nation's largest banks that led to the banks improperly foreclosing on thousands of American homeowners. For this work, Arnold earned a 2011 Edward R. Murrow Award for the special series, The Foreclosure Nightmare. He's also been honored with the Newspaper Guild's 2009 Heywood Broun Award for broadcast journalism. And he was a finalist for the Scripps Howard Foundation's National Journalism Award.

Arnold was chosen for a Nieman Journalism Fellowship at Harvard University during the 2012-2013 academic year. He joined a small group of other journalists from the U.S. and abroad and studied economics, leadership, and the future of journalism in the digital age. Arnold also teaches Radio Journalism as a Lecturer at Yale University. And he was named a Poynter Fellow by Yale in 2016.

Over his career at NPR, Arnold has covered a range of other subjects – from Katrina recovery in New Orleans and the Gulf Coast, to immigrant workers in the fishing industry, to a new kind of table saw that won't cut your fingers off. He traveled to Turin, Italy, for NPR's coverage of the 2006 Winter Olympics. He has also followed the dramatic rise in the numbers of teenagers abusing the powerful and highly addictive painkiller Oxycontin.

In the days and months following the September 11, 2001, attacks, Arnold reported from New York and contributed to the NPR coverage that won the Overseas Press Club and the George Foster Peabody Awards. He chronicled the recovery effort at Ground Zero, focusing on members of the Port Authority Police department, as they struggled with the deaths of 37 officers—the greatest loss of any police department in U.S. history.

Prior to his move to Boston, Arnold traveled the country for NPR doing feature stories on entrepreneurship. His pieces covered technologists, farmers, and family business owners. He also reported on efforts to kindle entrepreneurship in economically disadvantaged areas ranging from inner-city Los Angeles to the Pine Ridge Indian reservation in South Dakota.

Arnold has worked in public radio since 1993. Before joining NPR, he was a freelance reporter working out of San Francisco's NPR Member Station, KQED.

The investor lawsuit claims the companies, including Blackstone, Carlyle and Bain Capital, colluded to drive down prices on hundreds of billions of dollars in takeovers.

Stocks surged Thursday after the chief of the Federal Reserve sent signals that the central bank wasn't in a hurry to stop helping the economy. When the markets closed, the Standard & Poor's 500 Index was at a record high. Other U.S. indexes were also up, including the Dow Jones Industrial Average, which rose nearly 170 points to a record 15,460.92.

Update at 5 p.m. ET: We've updated some figures in this post to reflect the markets' closing.

Boston, the birthplace of the American Revolution, has kicked off its summer with HarborFest. The annual event provides work for lots of unemployed actors, who get to show off their faux British accents while wearing red-coat costumes. Other actors get to be revolutionaries in tri-cornered hats.

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In New England, more women are breaking through the glass gangway. That's the ramp you use to walk down onto a dock to hop onboard your own fishing boat. For generations lobstermen in Maine have been predominantly, well, men — but that's starting to change.

At a small gas dock in a rock-lined cove on Deer Isle, Maine, there's a new captain fueling up. Genevieve Kurilec, 29, wears a tank-top, orange fishing overalls and lobster buoy earrings.

Over the past four years, Bruce Marks has been on a traveling road show to help people avoid foreclosure. His nonprofit, the Neighborhood Assistance Corporation of America, has held more than 80 events in cities around the country. So far, Marks says, NACA has helped 202,000 people get their payments lowered so they can afford to keep their homes.

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GREG ALLEN, BYLINE: Now Florida is among the states that were hardest-hit by the housing crisis, and foreclosures remain a big problem there and in several other parts of the country.

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One thing the government has been struggling with is how to stop banks from foreclosing on people improperly. The government is also trying to figure out more quickly help homeowners who qualify for reduced interest rates.

A federal regulator has released new rules aimed at doing both, and NPR's Chris Arnold has more.

If you don't love scallops, you probably just haven't had one that's cooked properly. That is, pan fried with some garlic and butter and herbs. They are very tasty.

In Maine, scientists and fishermen are learning how to farm, instead of catching, these tasty sea critters. That could be good for business and the environment.

Out on the water off Stonington, Maine, Marsden Brewer is motoring his lobster boat through the crowded fishing harbor. Today, just about all the boats here are lobster boats. But 30 years ago, he says, it was a different story.

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A federal regulator is blocking the government-owned mortgage giants Fannie Mae and Freddie Mac from reducing the principal that homeowners owe on their mortgages in order to avoid foreclosures.

Tuesday's decision came from Edward DeMarco, the acting director of the Federal Housing Finance Agency.

Some industries stand to benefit now that the health care law has been upheld by the Supreme Court. For makers of medical devices, the ruling means frustration because a sales tax on their equipment stays in place.

The collapse of the housing market has led to plenty of finger-pointing in Washington. Two easy targets are Fannie Mae and Freddie Mac.

These government-backed mortgage giants had to be rescued by taxpayers and now owe the government $188 billion. Still, Fannie and Freddie, which currently make the vast majority of home loans possible, are crucial to supporting the housing market right now.

Amid all the economic uncertainty over the credit crisis in Europe and slow job growth in the U.S., one sector may be looking up. The U.S. housing market is finally showing more signs of recovery, according to a report being released Thursday by Harvard University.

Harvard comes out with this study once a year, and this time around, it's painting a much brighter picture.

After adding a robust 275,000 new jobs back in January, job growth appears to be slowing. The Labor Department reports that the economy added only 69,000 jobs in May.

Meanwhile, despite the worst recession in generations, there are still countless small business owners plugging away around the country, seeking to expand and hire more employees.

"This year we hired two more technicians, and we hope to hire one more," says Srinivas Konanki, who employs 20 people at Pipette Calibration Services, a laboratory equipment company he owns with his wife.

For generations, owning a home has been a key part of the lifestyle most Americans aspire to. But when the mortgage crisis exploded in 2007, it brought down the U.S. housing market — and the entire economy along with it.

The ensuing recession was an assault on the American dream of homeownership itself. The tidal wave of foreclosures, the crash in home prices and tighter lending standards have left some Americans unable or simply too nervous to buy a house.

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So, why is job growth slowing? Well, part of the problem, as we just heard, appears to be in Europe. The economic turmoil there is looking worse, and that has ripped into the U.S. economy and slowing down hiring. NPR's Chris Arnold has more from Boston.

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STEVE INSKEEP, HOST:

A lot of housing news is out this week and all of it is looking surprisingly good. Sales of new and older homes both saw gains. And two reports showed prices rising.

NPR's Chris Arnold has more.

CHRIS ARNOLD, BYLINE: The question is: Can this last? And some people who've studied housing for decades think that maybe it can.

William Weaton is an economist at MIT.

The Federal Reserve has unsealed the minutes of its Open Market Committee meeting in April. Fed officials warn that a failure to agree on a federal budget plan could mean businesses will delay hiring plans.

This week, the U.S. Census Bureau announced that in the first quarter of 2012, the American homeownership rate hit its lowest level in 15 years. During the housing boom, millions more Americans bought homes, bumping the rate to nearly 70 percent. Now, that buying spree has been replaced with millions of foreclosures, and most of those gains have been lost.

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STEVE INSKEEP, HOST:

Later this week, we get some key data to help judge the state of the nation's housing market. There are some early signs of recovery, but home prices are still falling in many areas, as NPR's Chris Arnold reports.

CHRIS ARNOLD, BYLINE: Tomorrow, we'll get the latest word on home prices from what's called the S&P Case-Shiller index. That keeps showing price declines in many areas. Though those price drops have been leveling off, so things definitely aren't as bad as they were.

The housing market has a new frontier — turning foreclosed homes into rental properties. Some big-time investors are starting to buy up thousands of homes to turn into rentals. That might help shore up home prices. But some housing advocates are nervous.

For decades, most single-family homes available for rent have been owned by mom-and-pop landlords. Sometimes it's the nice old guy up the street who owns a couple of rental homes, and some even offer advice on the Internet.

Hundreds of thousands of homeowners facing foreclosure might get help by having the amount they owe reduced by Fannie Mae and Freddie Mac.

This is a hot topic in Washington, D.C., with many Democrats pushing for these so-called "principal reductions" to try to help the housing market. On Tuesday, a top federal regulator came a step closer to allowing the move.

When you think of cutting-edge technology, power tools don't generally come to mind. Take the table saw: Many woodworkers are using 30-year-old saws in their wood shops and, among the major tool companies, there hasn't been much innovation since those decades-old tools came out.

But more and more inventors are trying to make these saws safer — and David Butler is one of them. At his home in Cape Cod, Mass., Butler flips on the fluorescent lights in his basement turned wood shop.

The stock market hit some major milestones this week: The Standard & Poor's 500 index reached its highest level in more than three years, the Dow Jones industrial average settled in above 13,000 — up about 24 percent since early October — and the Nasdaq rose to its highest level in 11 years. Still, the Federal Reserve has been warning not to get too excited about where the economy is headed next.

David Kotok, chairman and chief investment officer at Cumberland Advisors, says there are a bunch of reason for stocks to be rising.

Apple has about 47,000 workers in the U.S. That's not a huge amount for such a profitable and influential company. Now the tech giant is saying it has actually created about 10 times that many jobs indirectly.

Some economists are skeptical of the claim. And the move comes as Apple is facing increased criticism and scrutiny over labor practices at factories it outsources to in China.

Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.

But Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.

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