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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Your Money
3:01 am
Mon January 30, 2012

Freddie Mac Betting Against Struggling Homeowners

One of Freddie Mac's restrictions blocks people who have a short sale in their past from refinancing for two to four years following the short sale.
Rich Pedroncelli AP

Originally published on Thu March 27, 2014 7:53 am

Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.

But Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.

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Business
2:00 am
Tue January 17, 2012

Businesses Show More Confidence In The Economy

Originally published on Tue January 17, 2012 3:23 am

Transcript

STEVE INSKEEP, HOST:

Small business owners say they're getting more optimistic about the economy, and about their own prospects. That's according to a survey by the National Federation of Independent Businesses, an influential business group. And this is among several recent reports suggesting the economy is continuing to improve.

NPR's Chris Arnold has more.

CHRIS ARNOLD, BYLINE: Small businesses are getting more confident. And that's a good sign, says John Silvia, the chief economist at Wells Fargo.

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Around the Nation
2:00 am
Thu December 29, 2011

2012 Could See New Regs For Table Saws

Every year, thousands of Americans suffer severe injuries using the saws. But after a series of reports by NPR, the Consumer Product Safety Commission has started crafting new safety rules for table saws.

Crisis In The Housing Market
10:11 am
Tue December 27, 2011

Housing Market Stays Mired In Low Home Price Spin

According to the Standard & Poor's Case-Shiller Home Price Index released Tuesday, home prices were down 3.4 percent this year as of October — around a 35 percent drop from their peak.
Scott Olson Getty Images

This month, consumer confidence jumped to its highest level since April, a sign that the U.S. economy is starting to mend. But the housing market isn't going along yet with this cheerier mood: Home prices were down 3.4 percent for the year as of October, according to a new report released Tuesday.

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Still No Job: Over A Year Without Enough Work
2:44 pm
Thu December 15, 2011

Changes In The Economy Leave Workers Scrambling

A counselor (right) talks with a man about training programs at a nonprofit training and job placement center in Menlo Park, Calif. Seventy percent of the long-term unemployed and underemployed would like the government to offer more job training services, an NPR/Kaiser Family Foundation poll found.
Paul Sakuma AP

Originally published on Thu December 15, 2011 5:34 pm

If you're unemployed, it can be painfully clear when you don't have the right skills to land a good job.

With unemployment at 8.6 percent, upwards of 13 million Americans are without a job and looking for work. A recent NPR/Kaiser Family Foundation poll surveyed hundreds of long-term unemployed and underemployed people, asking whether they thought they had the skills required to find a job.

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Mitt Romney
10:01 pm
Tue December 13, 2011

As Governor, Romney Balanced Budget By Hiking Fees

When it comes to taxes, the field of Republican presidential candidates is unified: Keep them low and certainly don't raise them.

In both his runs for the White House, Mitt Romney has hewed to this Republican line. But whether he cut or actually raised taxes as governor of Massachusetts is a subject for debate.

All politicians like to talk about cutting taxes. But at the state level during tough economic times, many end up cutting spending while raising taxes because they have to balance their budgets.

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Economy
2:00 am
Tue November 22, 2011

Homeowners May Qualify For Foreclosure Review

Transcript

LINDA WERTHEIMER, HOST:

This is MORNING EDITION from NPR News. I'm Linda Wertheimer.

STEVE INSKEEP, HOST:

And I'm Steve Inskeep. Good morning.

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NPR Story
2:00 am
Tue November 15, 2011

FHA To Issue Annual Report

The Federal Housing Administration today issues its annual report to Congress. A Wharton School professor is warning the FHA's problems are worse than the agency is letting on. The professor predicts that taxpayers will have to provide another multi billion dollar bailout if the economy doesn't improve soon.

Crisis In The Housing Market
7:15 am
Mon November 14, 2011

After Banks' Mistakes, Homeowners Pick Up Pieces

Attorney Gary Klein in Boston is suing the largest U.S. banks on behalf of thousands of homeowners who he says the banks wrongfully pushed into foreclosure.
Chris Arnold NPR

Federal regulators have announced the start of a nationwide review of foreclosures by the nation's largest banks. The goal is to reach homeowners who've been treated unfairly or who lost their house when they shouldn't have.

Banks have started mailing out letters to upwards of 4 million homeowners. The regulators have ordered the banks to find people who have suffered financial harm due to the banks' mistakes, and to offer "remediation."

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Economy
1:00 pm
Thu November 10, 2011

Latest Economic News Sparks Optimism In U.S.

Originally published on Thu November 10, 2011 5:32 pm

Transcript

GUY RAZ, HOST:

It's ALL THINGS CONSIDERED from NPR News. I'm Guy Raz.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Maybe it's not so bad. That seemed to be the read of investors when they saw today's economic numbers. Better than expected news about unemployment stoked some optimism that the U. S. will avoid a double-dip recession. And stock market recovered a bit from yesterday's drop.

But the news is not as good in Europe, as NPR's Chris Arnold reports

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Economy
2:52 am
Thu November 3, 2011

How Technology Is Eliminating Higher-Skill Jobs

Harvard Business School's Jayanth Iyengar (far left), Jonas Peter Akins and Genevieve Sheenan held their own, but eventually lost to IBM's Watson in a game of Jeopardy at a conference on jobs and technology.
Chris Arnold NPR

Originally published on Thu November 3, 2011 9:43 am

The U.S. economy hit an important milestone last week: Gross domestic product, the sum of all goods and services produced in the country, returned to pre-recession levels. But the gains were made with millions fewer workers. Part of the reason is technology, as computers and machines continue to replace humans.

We used to think about machines taking over mundane jobs, like twisting a screw into a toaster on an assembly line over and over again. But more recently, technology is eliminating higher-skill jobs.

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Economy
2:00 am
Thu October 27, 2011

Trucking Gives Reason For Economic Optimism

One little-noticed measure of economic growth is the Truck Tonnage Index. The latest reading shows that trucks are carrying more goods, and that suggests the economy is doing well enough to avoid a recession.

Politics
2:00 am
Tue October 25, 2011

Refinancing A Focus Of Obama's Economic Plan

Speaking in Las Vegas on Monday, President Obama announced a plan for homeowners to refinance mortgages at low interest rates, if they met certain conditions.

Jewel Samad AFP/Getty Images

Originally published on Tue October 25, 2011 10:59 am

President Obama's home refinancing plan seeks to let a million or more American homeowners save money on their mortgages, even if those loans are underwater. But the plan announced Monday is not a new idea: A pair of economists at Columbia University — Chris Mayer and Glenn Hubbard — have been proposing a similar measure for years.

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Crisis In The Housing Market
3:00 am
Mon October 24, 2011

Housing Crisis A Hot Topic For Presidential Hopefuls

Former U.S. Sen. Rick Santorum, U.S. Rep. Ron Paul, businessman Herman Cain, former Massachusetts Gov. Mitt Romney, Texas Gov. Rick Perry, Former House Speaker Newt Gingrich and U.S. Rep. Michele Bachmann participate in a Republican presidential debate last week in Las Vegas.

Ethan Miller Getty Images

Originally published on Mon October 24, 2011 5:03 pm

Home prices across the U.S. have dropped 30 percent from their peaks, a downturn that has sapped trillions of dollars in wealth from Americans. Not surprisingly, it's a hot topic for presidential candidates this campaign season. But so far, new ideas about how to fix the crisis have been scarce.

On Monday, President Obama is visiting Nevada, where he's expected to announce his administration's latest proposals on housing. The state is at the epicenter of the downturn, with the latest reports showing home prices and sales numbers continuing to slip.

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Economy
10:01 pm
Wed October 19, 2011

Frustration Over Jobs Unites 'Occupiers' In Boston

Occupy Boston protesters congregate across the street from the Federal Reserve Bank of Boston.

Chris Arnold NPR

The U.S. hasn't had unemployment this high for this long since the Great Depression. That's weighing heavily on a lot of Americans and seems to be a key part of the frustration and anger that's being directed at Wall Street and the big banks. For many people, it's not so much about high finance as it is about a weekly paycheck.

"I'm unemployed, and I'm down here because I'm unemployed," says Bob Norkus, a protester in downtown Boston.

Walking around, it doesn't take long to figure out that many people here have the same problem.

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Crisis In The Housing Market
10:01 pm
Sun October 16, 2011

Housing Market Stuck Despite Low Prices, Rates

A bank-owned sign is seen in front of a foreclosed home in Miami. Florida was among the hardest hit states in the real estate collapse.

Joe Raedle Getty Images

Originally published on Mon October 17, 2011 8:32 am

Three years ago, the real estate market was simple — simply terrible, that is. In virtually every part of the country, foreclosures were shooting up and prices were plunging. Today, the real estate picture is more nuanced. Foreclosures are still rising, but prices are stabilizing in some markets, making home-buying look more attractive.

If you had talked to some good economists just before the housing bubble burst, they would have told you it didn't make sense to buy a house.

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Economy
12:16 pm
Thu October 13, 2011

A Labor Mismatch Means Trucking Jobs Go Unfilled

A truck stop near Hesperia, Calif. To address a shortage of truck drivers resulting from a mismatch of skills in the labor market, some trucking companies have started free driving schools with the promise of a job upon completion.

David McNew Getty Images

Originally published on Thu October 13, 2011 8:25 pm

The job market is barely treading water. The Labor Department reported Thursday that 404,000 more people filed for unemployment benefits last week, a number that's essentially unchanged from the week before.

Overall, there are 14 million people looking for work in the U.S., but at the same time there are still job openings around the country.

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Striving For A Safer Table Saw
11:03 am
Thu September 22, 2011

Regulators Consider Safety Brakes For Table Saws

Federal regulators are moving closer to implementing new safety standards for table saws. Every year, several thousand Americans cut off their fingers using the tools.

Engineers at the Consumer Product Safety Commission, a federal agency tasked with ensuring safety standards on a range of consumer products, say almost all of those injuries could be prevented with a better safety brake system.

Currently, such a brake is only available on one brand of table saw, called SawStop, but the vast majority of saws sold today don't have the safety brake.

Read more

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