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.

Now that Hurricane Irma has left Florida, gasoline supplies are slowly coming back into the state. But thousands of gas stations remain closed anyway.

That's because with electricity out throughout the peninsula, even stations that have access to gas have no way to get it into people's vehicles.

"Power is the issue. Most of these gas stations don't have backup generation that can allow the pumps to work," says John Kilduff, founding partner of Again Capital, an energy investment firm.

As Florida drivers hit the road to escape Hurricane Irma, the demand for gasoline has outpaced supply, leaving filling stations throughout the state short of fuel.

"It's horrible, man," said Aaron Izquierdo, who waited in a long line of cars at a Shell station in Doral on Friday. "Just yesterday I was in line for two hours to wait for gas, and by the time we got to the pump there was no gas."

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

MICHEL MARTIN, HOST:

Drivers who plan to hit the road over Labor Day weekend will face higher gasoline prices because of the impact of Hurricane Harvey on the nation's refineries and pipelines.

After several days of heavy rain and flooding, gas prices reached an average of nearly $2.51 a gallon, up 20 cents since two weeks ago and nearly 30 cents since this time last year, although they fell back a bit Friday.

Refineries throughout the Gulf Coast shut down or reduced production a week ago in anticipation of the high winds and heavy flooding from Harvey.

A friend sent a photo to Jaime Botello's phone Wednesday that confirmed his fears: The house where his family has lived for 30 years is completely flooded.

"All the way to the top," he says.

And like most people in the Houston area, Botello, a welder who was at a shelter with his wife on Wednesday, doesn't have flood insurance. He says he can't afford it.

Bill Gilmer remembers spending the night listening to the winds of Hurricane Ike tear through his suburban Houston neighborhood in September 2008. He also recalls waking up the next morning to hear something completely different.

"The first sound I heard was chainsaws, and I looked out and all my neighbors were out there clearing the streets, clearing their yards, cleaning up their yards," says Gilmer, who directs the Institute for Regional Forecasting at the University of Houston's C.T. Bauer College of Business.

With the federal government getting closer to running out of cash to cover all bills on time, companies that evaluate bonds are having to consider how to rate America's creditworthiness.

And their job didn't get any easier on Thursday when President Trump continued his attacks on congressional leaders over their failure to raise the federal debt ceiling.

Other U.S. officials have been trying reassure the financial markets that no default is imminent.

When White House chief strategist Steve Bannon was pushed out of his job last week, it underscored the growing clout of President Trump's chief of staff, John Kelly, a retired Marine Corps general.

And when Trump announced he was increasing U.S. troops in Afghanistan on Monday, after suggesting for years that he wouldn't, administration officials were quick to note that he was heeding the advice of "the generals."

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AUDIE CORNISH, HOST:

Under Armour founder and CEO Kevin Plank set off a social media firestorm last February when he voiced some overly positive words about the new administration of President Trump.

"To have such a pro-business president is something that's a real asset for this country. I think people should really grab that opportunity," said Plank, whose company makes sports apparel.

Updated at 10:35 p.m. ET

President Trump on Monday authorized his top trade official to look into whether China is guilty of intellectual property theft, a move that could eventually lead to trade sanctions.

Trump called his action "a very big move" against practices that cost our nation "millions of jobs and billions and billions of dollars each and every year."

The Dow Jones industrial average finished above 22,000 for the first time, buoyed by higher corporate profits and low unemployment.

The Dow, the most widely cited stock index in the world, closed Wednesday at a record of 22,016. It is now up 11 percent for the year and more than 20 percent since President Trump's election in November.

"Earnings are growing and are growing faster than anybody thought. That alone will drive stock prices up," says Brad McMillan, chief financial officer at Commonwealth Financial Network.

Defending President Trump on television is giving longtime conservative lawyer Jay Sekulow new prominence these days, but it's also reviving questions about a pair of charities he is involved with.

Sekulow, 61, who appeared on all five Sunday morning news shows over the weekend to address questions about Trump's ties to Russia, is a fixture in the Christian conservative movement, serving as chief counsel of the American Center for Law and Justice.

Last June's meeting between Donald Trump Jr. and a Russian lawyer with Kremlin connections was arranged by a colorful British-born music promoter with ties to the son of a Azerbaijan-born billionaire.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

MARY LOUISE KELLY, HOST:

A firm headed by Paul Manafort, who served as President Trump's campaign manager last year, made more than $17 million in two years working for the pro-Russia political party that controlled Ukraine's government, according to documents filed late Tuesday.

Manafort, who resigned from Trump's campaign last August after his work for Ukrainian interests came under scrutiny, has registered as a foreign agent with the U.S. Justice Department, as did his deputy, Rick Gates.

In ordinary times, New York-based Vornado Realty Trust would be a natural candidate to take on a major construction project such as the long-awaited rebuilding of FBI headquarters.

As with so much about the Trump era, however, the ordinary rules don't apply.

A commercial real estate firm, Vornado is widely reported to be a finalist to build a new campus for the FBI somewhere in the suburbs of Washington, D.C. But its financial ties to President Trump are raising concerns about conflicts of interest.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

RACHEL MARTIN, HOST:

We're getting another small clue about President Trump's overall financial picture after the president released some disclosure forms late last week. What did they say? Here's NPR's Jim Zarroli.

Saudi Arabia and the United Arab Emirates will donate a combined $100 million to a World Bank fund for women entrepreneurs that was the brainchild of Ivanka Trump.

The announcement by World Bank President Jim Young Kim came during a visit to Saudi Arabia by President Trump, who was accompanied by his wife, Melania, daughter Ivanka and son-in-law, Jared Kushner.

For a young Donald Trump in the 1970s, the Grand Hyatt hotel on East 42nd Street was his first major development project, a chance to make a splash in the big-time world of New York City real estate.

Yet the glitzy glass-fronted hotel never would have been possible without an almost unprecedented 40-year tax abatement from the city, which was then recovering from a painful fiscal crisis.

President Trump is preparing to overhaul the nation's tax code, and at least some of the coming changes could benefit his own bottom line. Critics say voters should be able to see just how much help the president might get from a revised tax code, so they are stepping up efforts to force him to share his tax returns.

Seeing the returns would reveal some key facts about the president's finances, says Noah Bookbinder, executive director of Citizens for Responsibility and Ethics in Washington, or CREW.

The Trump Organization is shutting down its New York-based modeling agency.

A statement released by the company said it was "choosing to exit the modeling industry."

"While we enjoyed many years of success, we are focussed on our core business in the real estate and golf industries and the rapid expansion of our hospitality division," the statement said.

Started in 1999, Trump Model Management was part of Trump's eclectic array of businesses, though it was never as visible as some of the others and didn't play a major role in the fashion business.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

DAVID GREENE, HOST:

Angela Chen makes money hawking her ties to important people, running a consulting firm that helps companies connect with Asia's power players.

So it inevitably attracted notice when Chen spent nearly $16 million recently to buy a four-bedroom Park Avenue penthouse owned by President Trump himself.

The February deal, which was first reported by Mother Jones, underscores one of the problems posed by Trump's ongoing business interests.

President Trump has made clear he doesn't like the alternative minimum tax, a complex federal levy that will hit some 4.8 million taxpayers this year.

A two-page tax return, filed by Trump for 2005 and revealed Tuesday, may suggest one reason. Because of the AMT, Trump was required to pay about $38 million in taxes on income of more than $150 million that year.

Without it, Trump's bill would have been a lot lower.

Donald Trump and his wife Melania earned about $150 million in 2005 and paid federal taxes of about $38 million, the White House said tonight.

The Trump administration made the revelation after copies of the tax returns anonymously were put in the mailbox of journalist David Cay Johnston.

The numbers have not been independently verified by NPR.

After purportedly stopping in at Mar-a-Lago, President Trump's Palm Beach resort, not long ago, a visitor went straight to Google's online review site to complain about the restaurant ambience.

"Very loud and distracting dinner atmosphere," the visitor noted. "I just wanted a quiet peaceful meal, but White House staff and diplomats at the next table kept shouting out classified information."

Updated at 6:20 p.m. ET

With Congress showing no signs of taking action, a group of ethics watchdogs is turning to U.S. Attorney Preet Bharara to look into whether President Trump's many business interests violate the Emoluments Clause of the U.S. Constitution.

Updated at 4:20 p.m. ET

White House adviser Kellyanne Conway acted "inadvertently" when she urged shoppers to buy Ivanka Trump's products on Fox and Friends last month and won't make the same mistake again, the Trump administration says.

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