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.

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.

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 the same way.

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.

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 other programs, Sanders says.

Japan is venturing further into the terra incognito of negative interest rates, selling a 10-year government bond that actually costs its purchasers money over time.

In doing so, it joins a handful of European countries that have also lowered rates below zero.

The yield on the 10-year note sold by the Bank of Japan dipped to an unprecedented level of negative .05 percent, meaning that anyone who buys it will lose money.

For the first few minutes of his appearance on Capitol Hill Thursday morning, pharma bad boy Martin Shkreli was the soul of decorum.

He sat placidly, hands clasped, a polite smile fixed upon his face, as members of the House Oversight and Government Reform Committee fired questions at him.

And to every question he gave the same answer:

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Transcript

MARY LOUISE KELLY, HOST:

Tickets to the most popular concerts and other live events are often hard to find because of abusive practices by vendors who illegally use computer programs called bots to grab them up, according to a report released by New York Attorney General Eric Schneiderman.

In some cases, tickets to live events sell out within minutes, only to appear right away at enormous markups on sites such as StubHub, according to the report, which calls for major reform to the ticketing process.

The Federal Reserve has decided to keep its benchmark interest rate where it is, even as Fed officials expressed somewhat more caution about global economic conditions.

In a statement issued after the end of policymakers' two-day meeting, the Federal Open Market Committee said the federal funds rate would stay at 25-50 basis points, where it was set at the Fed's December meeting.

Iranian President Hassan Rouhani is on a goodwill tour through Italy and France this week, trying to drum up investment for his country's sanctions-battered economy.

But Iran still faces challenges that make it hard for companies to do business with Tehran.

In a move that was loudly celebrated in Iran, the United States and other countries earlier this month agreed to lift an economic embargo that had been imposed in 2012 in an effort to curb Iran's nuclear program.

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