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 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.

The turmoil on Wall Street showed no signs of letting up today, as fears about the slowing global economy once again sent oil and stock prices tumbling.

The Dow Jones industrial average was down more than 500 points, a drop of 3.5 percent, at a little after noon ET, though it later rebounded somewhat and ended the day down 249 points. Meanwhile, oil fell below $27 a barrel, a 12-year low.

The International Monetary Fund has once again pared its forecast for global growth, warning that emerging markets face steeper economic challenges in the year to come.

A report issued today says world economic output will grow by 3.4 percent in 2016 and 3.6 percent next year, a decline of 0.2 percent from the agency's previous forecast, in October.

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