Scott Horsley

Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.

Horsley spent a decade on the White House beat, covering both the Trump and Obama administrations. Before that, he was a San Diego-based business reporter for NPR, covering fast food, gasoline prices, and the California electricity crunch of 2000. He also reported from the Pentagon during the early phases of the wars in Iraq and Afghanistan.

Before joining NPR in 2001, Horsley worked for NPR Member stations in San Diego and Tampa, as well as commercial radio stations in Boston and Concord, New Hampshire. Horsley began his professional career as a production assistant for NPR's Morning Edition.

Horsley earned a bachelor's degree from Harvard University and an MBA from San Diego State University. He lives in Washington, D.C.

Updated at 4:45 p.m. ET

Texas Gov. Greg Abbott imposed new limits on bars and restaurants Friday, one day after declaring he didn't want to move backward and shut down businesses.

But many people aren't waiting. Faced with a growing number of coronavirus cases across the South and West, they're making their own choices about spending, and many have already locked down their wallets.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

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Updated at 1:25 p.m. ET

Just as supplies of toilet paper are finally getting back to normal, the coronavirus has triggered another shortage of something we typically take for granted: pocket change.

Banks around the U.S. are running low on nickels, dimes, quarters and even pennies. And the Federal Reserve, which supplies banks, has been forced to ration scarce supplies.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

SCOTT SIMON, HOST:

BJ Leiderman still writes our theme music, but pocket change is the new toilet paper. How's that for a transition?

The wealthiest American households are keeping a tight grip on their purse strings even as their lower-income counterparts are spending a lot more freely when they emerge from weeks of lockdown. That decline in spending by the wealthy could limit the whole country's economic recovery.

Researchers based at Harvard have been tracking spending patterns using credit card data. They found that people at the bottom of the income ladder are now spending nearly as much as they did before the coronavirus pandemic.

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