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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.

Updated at 5:06 PM ET

President Trump on Friday announced what he calls "phase one" of a larger trade deal with China.

As part of the deal, a tariff increase planned for next Tuesday will not be imposed. The U.S. was scheduled to raise tariffs on about $250 billion worth of goods on October 15 from 25% to 30%.

The specifics of the deal are still being hammered out, and they haven't been signed yet. President Trump said he hopes that will happen in the next month or so. The leaders of the U.S. and China are expected to meet in November.

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Democrats running for president next year have worked hard to differentiate themselves from President Trump on issues such as immigration, tax cuts and health care. When it comes to trade, that hasn't been so easy.

Trump, after all, came to office as a fierce critic of U.S. trade policy, arguing that previous administrations had been duped into signing free trade agreements that had cost Americans millions of manufacturing jobs.

The British pound sterling is the oldest currency still in use in the world, dating to the time when Britain was little more than a collection of warring fiefdoms regularly plundered by Vikings.

Since its first use in the eighth century, the pound has survived revolutions and world wars, the industrial age and Thatcherism, and today it remains a powerful reminder of the glory days of the British empire.

But over the years, the pound has lost a lot of its luster, and in the wake of the Brexit turmoil, some economists believe it will only keep losing value.

When President Trump announced a new round of tariffs on Chinese imports last week, he made clear he was ready to sever ties between the United States and China, if necessary, to win the trade war.

"We don't need China," the president tweeted, "and, frankly, would be far better off without them."

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At 74, Steven Hoffenberg spends a lot of time reflecting on his long and checkered past, which included a lengthy prison sentence for running a Ponzi scheme.

Since last weekend, he says his thoughts have increasingly turned to the man he says conspired with him in that scheme — the notorious sex criminal Jeffrey Epstein, who was found dead in his cell at New York's Metropolitan Correctional Center last Saturday.

Updated at 4:12 p.m. ET

Financial markets made it through another volatile day, amid escalating fears that the U.S.-China trade war will further damage a worldwide economy that is already slowing.

Stocks plummeted as soon as the market opened, sending the Dow Jones Industrial Average down more than 500 points, but they largely recovered by the end of trading. The Dow finished down just 22 points.

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