Chris Arnold

NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered and Weekend Edition. He joined NPR in 1996, and was based in San Francisco before moving to Boston in 2001.

In recent years, Arnold has spent much of his time reporting on the financial crisis, its aftermath, and the U.S. economy's ongoing recovery. He has focused on the housing bubble and its collapse. And he's reported on problems within the nation's largest banks that have led to the banks improperly foreclosing on thousands of American homeowners. For this work, Arnold earned a 2011 Edward R. Murrow Award for the special series, The Foreclosure Nightmare. He's also been honored with the Newspaper Guild's 2009 Heywood Broun Award for broadcast journalism. He was chosen by the Scripps Howard Foundation as a finalist for their National Journalism Award, and he won an Excellence in Financial Journalism Award from N.Y. State's society for CPA's.

Arnold is also reporting on the now government-owned mortgage giants Fannie Mae and Freddie Mac. In a series of stories in partnership with ProPublica, Arnold exposed investments at Freddie Mac that raised serious concerns about a conflict of interest between Fannie and Freddie's massive investment portfolios, and their mission to make home ownership more affordable. The stories generated widespread attention, and led to calls for an investigation by members of Congress.

Arnold was recently honored with a Nieman Journalism Fellowship at Harvard University during the 2012-2013 academic year. He joined a small group of other journalists from the U.S. and abroad and studied, among other things, economics and the future of home ownership in America.

Prior to that, Arnold covered a range of other subjects for NPR – from Katrina recovery in New Orleans and the Gulf Coast, to immigrant workers in the fishing industry, to a new kind of table saw that won't cut your fingers off. He traveled to Turin, Italy, for NPR's coverage of the 2006 Winter Olympics. He has also followed the dramatic rise in the numbers of teenagers abusing the powerful and highly addictive painkiller Oxycontin – more than 1 out of 20 high school seniors report using the drug.

In the days and months following the Sept. 11, 2001, attacks, Arnold reported from New York and contributed to the NPR coverage that won the Overseas Press Club and the George Foster Peabody Awards. He chronicled the recovery effort at Ground Zero, focusing on members of the Port Authority Police department, as they struggled with the deaths of 37 officers - the greatest loss of any police department in U.S. history.

Prior to his move to Boston, Arnold traveled the country for NPR doing feature stories on entrepreneurship. His pieces covered technologists, farmers, and family business owners. He also reported on efforts to kindle entrepreneurship in economically disadvantaged areas ranging from inner-city Los Angeles to the Pine Ridge Indian reservation in South Dakota.

Arnold has worked in public radio since 1993. Before joining NPR, he was a freelance reporter working out of San Francisco's NPR Member Station, KQED.

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The Two-Way
4:05 pm
Thu April 23, 2015

15 Years After The Dot-Com Bust, A Nasdaq Record

As the Nasdaq closes above the record set 15 years ago, stock analysts are debating whether the market is approaching another bubble.
Bryan Thomas Getty Images

Originally published on Thu April 23, 2015 7:03 pm

When it closed at 5,056.06 on Thursday, the Nasdaq Composite Index hit a new high — surpassing the old record close of 5,048.62, reached March 10, 2000, during the dot-com craze.

That also makes it 15 years since that infamous tech bubble burst, sending the index down more than 75 percent by the time it hit bottom.

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Your Money
5:07 am
Tue April 21, 2015

Will New Retirement Rules Protect Americans From Wall Street?

Labor Secretary Thomas Perez says proposed rules for financial advisers are meant to protect consumers.
Nick Ut AP

Originally published on Tue April 21, 2015 3:16 pm

Saving enough money to retire can be tough. But it's next to impossible if a financial adviser is steering the client into bad investments — and getting big commissions in return. And according to the Obama administration, that's exactly what too many advisers have been doing.

Millions of Americans trying to save for retirement have ended up with investments where high fees cripple their returns over time. U.S. Labor Secretary Tom Perez says much of that is due to bad advice.

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Business
8:51 pm
Fri April 10, 2015

General Electric To Sell Majority Of Finance Arm, Real Estate Holdings

Originally published on Fri April 10, 2015 7:30 pm

The sprawling conglomerate General Electric is radically paring down its business, ditching most finance and real estate operations. GE was badly burned by the financial crisis, and the plan announced Friday would protect it from the risks associated with banking.

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Health Care
4:35 pm
Wed April 8, 2015

With Discounts For Healthy Behavior, John Hancock Courts Privacy Concerns

Originally published on Thu April 9, 2015 9:37 am

John Hancock announced a new program promising discounts for policyholders who wear a fitness tracker, exercise more and go to the doctor. The life insurance company says that if people live longer healthier lives, everybody wins. But privacy advocates worry about all the electronic monitoring.

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Business
6:25 pm
Fri April 3, 2015

While Pay Holds Steady For Most, Low-Wage Workers Get A Boost

McDonald's announced this week that it will pay workers in its company-owned stores $1 more per hour than the local minimum wage. Wal-Mart, Target and the parent company of Marshalls and TJ Maxx have also promised to boost wages for their lowest-paid workers this year.
Lucy Nicholson Reuters/Landov

Originally published on Mon April 6, 2015 12:03 pm

The vast majority of U.S. workers haven't seen any real wage gains since the recession. But that's starting to change, at least for low-income workers.

This week, fast-food giant McDonald's announced it will pay workers $1 more than the local minimum wage.

It joins some of the nation's other largest employers, including Wal-Mart, Target and TJX, the parent company of Marshalls and TJ Maxx. All say they will be boosting pay to at least $9 per hour this year, and some will go to $10 next year.

For Wal-Mart alone, that's a pay raise for half a million Americans.

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U.S.
3:42 am
Mon March 30, 2015

With So Much Oil Flowing, U.S. May Be Reaching Storage Limits

Cushing, Okla., is a major oil storage site. Amid record oil production, some analysts worry the U.S. will run out of places to put it all.
Daniel Acker Bloomberg via Getty Images

Originally published on Mon March 30, 2015 11:16 am

Never before has the U.S. had so much oil spurting up out of the ground and sloshing into storage tanks around the country. There's so much oil that the U.S. now rivals Saudi Arabia as the world's largest producer.

But there has been some concern that the U.S. will run out of places to put it all. Some analysts speculate that could spark another dramatic crash in oil prices.

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Business
7:41 pm
Wed March 18, 2015

A Nuclear Deal With Iran Could Increase Global Oil Glut

Originally published on Sat March 21, 2015 10:09 am

It's not just Benjamin Netanyahu and other world leaders who are scrutinizing the Iran negotiations. Oil traders are, too. That's because there's already an oil glut, and an Iran deal could lift sanctions and mean even more oil.

"Even the thought that Iranian oil could be unleashed on the global market is, you know, getting people to sell first and ask questions later," says Phil Flynn, a senior market analyst and oil trader at The Price Group in Chicago.

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Economy
4:28 am
Tue March 10, 2015

Credit Rating Agencies Agree To Change Process For Reporting Errors

Originally published on Tue March 10, 2015 12:36 pm

The three major credit rating agencies reached an agreement with New York Attorney General Eric Schneiderman on Monday to change the way they handle errors on credit reports. Under the reforms, consumers can initiate a formal dispute to challenge inaccurate information and agencies must use trained employees to investigate the complaints.

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Business
4:08 am
Fri February 27, 2015

White House Move To Protect Nest Eggs Sparks Hopes And Fears

President Obama remarks on his proposal to tighten consumer protections for people saving for retirement as Sen. Elizabeth Warren and Labor Secretary Tom Perez listen, at AARP on Monday.
Getty Images

Originally published on Fri February 27, 2015 5:12 pm

The Obama administration is creating new protections for Americans saving and investing for retirement, but industry groups say the new rules could hurt the very people the president says he wants to help.

If you're building a retirement nest egg, big fees are the dangerous predators looking to feast on it. The White House says too many financial advisers get hidden kickbacks or sales incentives to steer responsible Americans toward bad retirement investments with low returns and high fees.

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Business
6:17 am
Mon February 23, 2015

White House Moves To Protect Investors From Bad Retirement Advice

Originally published on Mon February 23, 2015 5:51 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

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STEVE INSKEEP, HOST:

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