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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As early as today, Wells Fargo could be facing a new fine of up to a billion dollars for a variety of infractions against its customers. NPR's Jim Zarroli has details. And we should note - Wells Fargo is a financial supporter of some NPR programming.

In the struggling canned goods industry, Pacific Coast Producers is a survivor, taking some 700,000 tons of fruit grown by California farmers each year and canning it for sale in supermarkets and large institutions such as hospitals.

This year the company, based in Lodi, Calif., is facing another challenge that promises to make turning a profit that much harder: President Trump's tariffs on steel imports.

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Tech stocks were a growth engine for the market when the economy was tepid, but recently they've been sputtering and their troubles are helping drag the entire market lower.

Some of the biggest names in technology have been swooning.

Like a lot of Americans, President Trump sees the U.S. trade deficit as an urgent problem — a symbol of U.S. economic decline.

"Any way you look at it, it is the largest deficit of any country in the history of our world. It's out of control," Trump said earlier this month when he announced proposed tariffs on Chinese imports.

Most economists, of various political leanings, are a lot less worried about the trade gap, which totaled $568 billion last year.

For all his harsh rhetoric about unfair trade practices by China, President Trump stopped short of taking any punitive actions against Beijing during his first year in office.

But that may be about to change.

When President Trump announced tariffs on steel and aluminum imports this month, he said protecting the two industries was vital for national security.

"We want to build our ships. We want to build our planes. We want to build our military equipment with steel, with aluminum from our country," he said at a March 8 White House news conference.

In other words, the U.S. military should be as self-sufficient as possible, and not rely on other countries to supply the essential materials it needs for defense.

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Updated at 5:15 p.m. ET

The stock market finished the day sharply higher, but only after another session of wild price swings.

The Dow Jones industrial average closed at 24,912.77, an increase of 567 points, or 2.3 percent. But it began the day down sharply, with triple-digit losses.

Other major U.S. stock indexes also rebounded Tuesday, with the S&P 500 finishing up 46 points, or 1.7 percent, and the Nasdaq up 148 points, or 2.1 percent.

Updated on Jan. 17 at 6:12 p.m.

As the investigation into Russian influence in the 2016 election now carries into 2018, Justice Department special counsel Robert Mueller is keeping quiet on details.

But one thing does seem clear: A year after President Trump took office, the crime of foreign money laundering looks as though it has become an important focus.

The Dow Jones industrial average finished above 25,000 for the first time, as the long rally in stock prices showed no signs of letting up.

A strong report about hiring from payroll processor ADP helped push stocks higher. Financial stocks did especially well, and an increase in oil prices has benefited the energy sector.

The Dow finished the day at 25,075, a gain of 0.61 percent. Both the Nasdaq composite index and the Standard and Poor's 500 index also finished at record highs.

Kari Pinto and her husband recently retired, and now they hope to trade Iowa — and its harsh winters — for a state with a milder climate.

But the tax bill President Trump signed into law last month has complicated their search for a new home.

"Now we just have another wrinkle in trying to determine where to go, and how much it's going to cost us," she says.

Republicans say the tax-cutting overhaul being debated in Congress will jump-start the U.S. economy, leading to a lot more investment and hiring by companies.

But some economists say the tax plans — which would sharply cut corporate and business taxes and eliminate numerous deductions for individuals — come at precisely the wrong time. Lower taxes could also be undercut by Federal Reserve policymakers, who are gradually raising interest rates, they say.

Republicans lawmakers are considering a federal budget "trigger" that would raise taxes if proposed tax cuts don't deliver the economic growth they have promised.

But the proposal is generating a lot of pushback from critics, especially conservatives.

The so-called trigger mechanism would be a legislative provision to rescind corporate tax cuts by as much as $350 billion if revenue targets are not met, Bloomberg News reports.

Marilyn Mollenedo spent years working at a series of administrative jobs. So when her husband landed a well-paying position in San Francisco, she figured it would finally enable them to put aside more money for retirement.

Instead, her husband's salary, coupled with a generous pension from an earlier government position, thrust them into a costly new tax category, where they had to pay the alternative minimum tax.

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Shortly after World War II, a young Buffalo company — Speed Motor Express — began transporting commercial freight around western New York.

As it weathered the ups and downs of the local economy over the decades, the company slowly expanded its fleet of trucks.

Then in 1994, the North American Free Trade Agreement, or NAFTA, expanded trade among the United States, Canada and Mexico. Buffalo faces Canada along the Niagara River.

If only because of its venue, the office of New York district attorney has long been among the highest-profile prosecutorial jobs in the country. The men who have served in it, legal legends such as Thomas Dewey, Frank Hogan and Robert Morgenthau, have often held the job for years, gaining enormous stature and political capital along the way.

Until recently, it seemed the current DA, 63-year-old Cyrus Vance Jr., might enjoy the same long tenure.

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President Trump has surprised a lot of people with some comments on Puerto Rico's debt crisis. The U.S. territory owes some $73 billion to bondholders, money that it's been unable to pay. In an interview on Fox News last night, the president seemed to suggest that the bondholders aren't going to get their money back.

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When President Trump announced a ban on travel for citizens from several predominantly Muslim countries in January, a coalition of officials from various blue states quickly rallied to fight it.

"We just started talking to each other Friday afternoon," recalls New York Attorney General Eric Schneiderman. "By Sunday morning, we had 17 states signed on to say, 'This is unconstitutional. We're going into court to stop it.' And we went into courts all over the country and eventually got it struck down."

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The Securities and Exchange Commission has revealed it was the victim of hacking last year. And it says the hackers may have used some of the information they took for illicit stock trading. Here's NPR's Jim Zarroli.

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."

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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.

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