WYSO

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.

Washington may be preoccupied with the debate over whether to raise the debt ceiling and the consequences of a default, but so far at least, the nation's financial markets appear to be taking the prospect in stride.

Although politicians from President Obama on down have been predicting for weeks that a debt default would wreak havoc on the global economy, interest rates on U.S. government debt remain near historic lows.

The 10-year Treasury bill, often seen as a barometer of investor sentiment toward the bond market, hovered around 3 percent Friday.

With the economy growing at a tepid pace last fall, the Federal Reserve made an unprecedented move: It began buying up long-term government bonds from investors as a way of pouring money into the economy.

Many economists say the program probably helped stimulate growth, at least a little. Now it's supposed to expire — and Fed officials say it won't be coming back.

Fed officials never use the term themselves, but a lot of people have taken to calling the Fed's stimulus program "quantitative easing."

A lot of companies try to instill loyalty in their employees. But it's safe to say few of them took it as far as IBM.

For years IBM employees had to learn company songs. Journalist Kevin Maney, who was commissioned by IBM to co-author Making the World Work Better, a history of the company, says it was part of the effort to build a corporate culture. That was something IBM founder Thomas Watson Sr. took very seriously.

This week the White House has been lobbying Congress to raise the $14.3 trillion federal debt ceiling. Doing so would give the government the legal authority to borrow billions of dollars to pay its bills.

Although refusing to raise the ceiling would be an almost unprecedented move, some conservatives argue it's the only way to get federal spending under control.

The Treasury Department says that if the limit isn't raised by Aug. 2, the government will run out of money to operate.

Pages