Jim Zarroli

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.

Over the years, he has reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders, and Ponzi schemers. Most recently, he has focused on trade and the job market. He also worked as part of a team covering President Trump's business interests.

Before moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position, he reported from the United Nations and was also involved in NPR's coverage of Hurricane Katrina, the London transit bombings, and the Fukushima earthquake.

Before joining NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

He lives in Manhattan, loves to read, and is a devoted (but not at all fast) runner.

Zarroli grew up in Wilmington, Delaware, in a family of six kids and graduated from Pennsylvania State University.

Already a Wall Street superstar, Tesla turned a profit for the fourth straight quarter, an important milestone that will make it eligible to join the S&P 500 stock index for the first time.

The economy is tanking across the country, with layoffs and bankruptcies as far as the eye can see. But the richest sliver of the country continues to do quite well, thank you.

The latest evidence came Wednesday morning as Goldman Sachs, the bluest of blue-chip banks, said it's raking in money on Wall Street.

While other banks are warning about rising loan losses during the recession, Goldman, which tends to serve a higher-end clientele, is sounding a pretty optimistic note.

Updated at 12:45 p.m. ET

The dramatic collapse of the U.S. economy from the coronavirus is pummeling America's largest banks, raising new concerns about how much growth is slowing.

They fume and rage and demand their rights. Sometimes they even get violent.

In the age of COVID-19, most people practice social distancing guidelines when they go into stores and restaurants, putting on masks and standing 6 feet behind other customers.

Still, there are the nightmare customers — those who refuse to comply.

"I've had a lot of conflict. I've had a lot of pushback from people," says Brenda Leek, owner of Curbside Eatery in La Mesa, Calif.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

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Stock prices took another nosedive Wednesday, amid fears that a spike in coronavirus cases in parts of the Sunbelt could force the economy into another lockdown.

The major stock indexes finished the day down more than 2%, as investors grappled with evidence that the economy may not rebound as fast as they'd expected.

The Dow Jones Industrial Average lost 770 points, a drop of more than 2.7%.

Shares of companies that have been especially hard hit by the pandemic, such as homebuilders and cruise lines, lost ground, as did bank stocks.

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Updated at 4:07 p.m. ET

Stocks plunged Thursday amid reports of a second wave of coronavirus cases, as well as a warning from Fed officials that the economy may take longer than first thought to recover.

After the coronavirus lockdowns forced it to shut down its 345 U.S. theaters, Texas-based Cinemark in April decided to do what a lot of companies have done: borrow money by selling bonds.

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The Federal Reserve is waging an unprecedented and historic effort to prop up the economy right now. It's doing this by flooding the nation with trillions of dollars. But that doesn't necessarily mean all the money is going to the right places. NPR's Jim Zarroli reports.

JIM ZARROLI, BYLINE: When the history of the COVID-19 crisis is written, it may turn out that the Federal Reserve did more than anybody else to keep the economy from collapsing.

It's counterintuitive.

At a time of roiling civil unrest and an unprecedented economic crisis, stock prices are chugging along quite nicely. In fact, they have rebounded sharply since the dark days of March.

The Dow Jones Industrial Average, which lost 37% of its value between Feb. 12 and March 23, has now regained more than two-thirds of the ground it lost. Same with the broader S&P 500 index.

Trevon Ellis spent years building up his north Minneapolis barbershop, the Fade Factory, luring customers with smart haircuts, snacks and friendly conversation.

It took just one terrible night to destroy it all.

"Inside is totally burned down," Ellis says. "Everything was burned to a crisp."

The recent wave of protests against police brutality has left a trail of chaos and destruction in many city neighborhoods, with countless businesses looted and damaged.

The coronavirus has taken a hatchet to municipal budgets everywhere, forcing cities and towns to lay off librarians, parks workers and even first responders like police and firefighters.

From big cities like Detroit to small towns like Ogdensburg, N.Y., workers are being furloughed, programs are being cut and major capital projects are being shelved.

Marshall Gilmore finally got what he'd been waiting for this month when the state of Mississippi allowed him to offer table service again at his restaurant, the Harvest Grill in Meridian.

Still, many of his tables sit empty, even at limited capacity, and he makes most of his money offering curbside food pickup.

"People are just a little apprehensive about getting out in public. This was a once-in-a-lifetime scare that we all just went through. So everyone's a little scared," Gilmore says.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

STEVE INSKEEP, HOST:

We have another damage report this morning. The government reported how many Americans filed for unemployment for the first time last week, a number that has been in the millions week after week. NPR's Jim Zarroli is covering this. Hi there, Jim.

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