John Ydstie

John Ydstie has covered the economy, Wall Street and the federal budget for NPR for two decades. In recent years NPR has broadened his responsibilities, making use of his reporting and interviewing skills to cover major stories like the aftermath of 9/11, Hurricane Katrina and the Jack Abramoff lobbying scandal. His current focus is reporting on the global financial crisis. Ydstie is also a regular guest host on the NPR news programs Morning Edition, All Things Considered, Weekend Edition and Talk of the Nation.

During 1991 and 1992 Ydstie was NPR's bureau chief in London. He traveled throughout Europe covering, among other things, the breakup of the Soviet Union and attempts to move Europe toward closer political and economic union. He accompanied U.S. businessmen exploring investment opportunities in Russia as the Soviet Union was crumbling. He was on the scene in The Netherlands when European leaders approved the Maastricht Treaty, which created the European Union.

In August 1990, Ydstie traveled to Saudi Arabia for NPR as a member of the Pentagon press pool sent to cover the Iraqi invasion of Kuwait. During the early stages of the crisis, Ydstie was the only American radio reporter in the country.

Ydstie has been with NPR since 1979. For two years, he was an associate producer responsible for Midwest coverage. In 1982 he became senior editor on NPR's Washington Desk, overseeing coverage of the federal government, American politics and economics. In 1984, Ydstie joined Morning Edition as the show's senior editor, and later was promoted to the position of executive producer. In 1988, he became NPR's economics correspondent.

During his tenure with NPR, Ydstie has won numerous awards. He was a member of the NPR team that received the George Foster Peabody for its coverage of 9/11. Ydstie's reporting from Saudi Arabia helped NPR win the Alfred I. duPont-Columbia University Award in 1991 for coverage of the Gulf War. Prior to joining NPR, Ydstie was a reporter and producer at Minnesota Public Radio. While there, he was awarded the Clarion Award for his report "Vietnam Experience and America Today."

A graduate of Concordia College, in Moorhead, MN, Ydstie earned a bachelor of arts degree, summa cum laude, with a major in English literature and a minor in speech communications.

Ydstie was born in Minneapolis, and grew up in rural North Dakota.

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Economy
3:07 am
Fri March 29, 2013

Cyprus' Crisis Frames Eurozone As 'Work In Progress'

Banks in Cyprus reopened to customers for the first time in nearly two weeks Thursday, albeit with strict restrictions.
Petros Giannakouris AP

Originally published on Fri March 29, 2013 11:14 am

On the second day since Cyprus reopened its banks, depositors continue to face restrictions on getting at their money. ATM withdrawals are limited to 300 euros a day, and there are limits on how much cash travelers can take abroad.

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NPR Story
4:31 am
Fri March 22, 2013

Census Bureau: Americans Burdened By High Debt

Originally published on Fri March 22, 2013 10:55 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with high debt and low wealth.

(SOUNDBITE OF MUSIC)

INSKEEP: Since the financial crisis, many Americans have been saving money and paying down debt. Many are in better financial shape than a few years ago. But when you look at the longer term, it is clear that Americans as a whole have not regained all the ground they lost.

The Census Bureau compared Americans in 2011 with their wealth and debt burdens in that seemingly long-ago year, 2000.

NPR's John Ydstie reports.

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Economy
4:58 pm
Wed March 20, 2013

Federal Reserve To Hold Interest Rates Low Until Unemployment Improves

Originally published on Wed March 20, 2013 6:43 pm

Transcript

ROBERT SIEGEL, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

MELISSA BLOCK, HOST:

And I'm Melissa Block.

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Business
6:04 pm
Tue March 19, 2013

Odd Political Bedfellows Agree: Banks Still Too Big To Fail

Sen. Elizabeth Warren, D-Mass., questions Federal Reserve Board Chairman Ben Bernanke during a Senate hearing last month. Senators from both ends of the political spectrum argue that financial reforms are insufficient to protect taxpayers from potential risks posed by large banks.
Gary Cameron Reuters/Landov

Originally published on Tue March 19, 2013 7:51 pm

Amid Washington's dysfunction, one issue has united some liberal Democrats and conservative Republicans: a common concern that "too big to fail" is alive and well.

Despite the Dodd-Frank financial reforms, these lawmakers believe the nation's largest banks still pose a threat to the economy and that the government will step in to bail them out if they get in trouble.

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Economy
5:35 pm
Wed March 6, 2013

Time For The Fed To Take Away The Punch Bowl?

Federal Reserve Chairman Ben Bernanke testifies before the Senate Banking Committee in Washington last month. Some analysts wonder if he and other policymakers have kept interest rates too low for too long.
Carolyn Kaster AP

Originally published on Thu March 7, 2013 11:49 am

The stock market's long climb from its recession bottom has some people concerned it may be a bubble about to burst — a bubble artificially pumped up by the Federal Reserve's easy-money policy. That's led to calls — even from within the Fed — for an end to the central bank's extraordinary efforts to keep interest rates low.

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Economy
5:16 am
Fri March 1, 2013

Economists Debate Sequestration's Effect On Economy

Originally published on Fri March 1, 2013 1:47 pm

The Congressional Budget Office estimates the automatic budget cuts that go into effect Friday will shave 0.6 percent from the economy's annual growth rate. That might not be a big worry if the economy were growing at 3 or 4 percent. But growth is a paltry 2 percent, so the impact may be noticeable.

Economy
5:20 pm
Tue February 26, 2013

Bernanke Defends Fed's Stimulus Policy Of Low Interest Rates

Originally published on Tue February 26, 2013 7:05 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

MELISSA BLOCK, HOST:

And I'm Melissa Block.

Some reassurance today for investors who worried the Federal Reserve might reverse course and start raising interest rates. Today, in testimony on Capitol Hill, Fed Chairman Ben Bernanke gave a full-throated defense of those low rates. They're a centerpiece of the Fed's effort to stimulate the economy.

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Politics
5:42 am
Fri February 22, 2013

Obama To Urge Japan To Join Trans-Pacific Partnership

Originally published on Fri February 22, 2013 6:26 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with a Japanese visit to the White House.

Japan's Prime Minister Shinzo Abe will meet with President Obama at the White House today. For Abe, the primary focus of the summit is re-vitalizing Japan's security alliance with the United States in the face of the threat from North Korea as well as tensions between Japan and China.

But as NPR's John Ydstie reports, the leaders will also discuss economic issues.

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Economy
6:12 am
Fri February 15, 2013

Eurozone Economies Declined In 2012

Originally published on Fri February 15, 2013 8:39 am

Transcript

LINDA WERTHEIMER, HOST:

NPR's business news starts with Europe's rocky economy.

(SOUNDBITE OF MUSIC)

WERTHEIMER: It was a tough three months for the eurozone at the end of last year. The area fell deeper into recession.

And as NPR's John Ydstie reports, it's expected to remain in recession well into 2013.

JOHN YDSTIE, BYLINE: The output of the eurozone fell six-tenths of a percent in the final three months of last year, according to a report from Eurostat. The decline translates to an economy contracting at a 2.3 percent annual rate.

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NPR Story
6:05 am
Thu February 14, 2013

Lew Expected To Be Confirmed As Treasury Secretary

Originally published on Fri February 15, 2013 3:05 am

Transcript

LINDA WERTHEIMER, HOST:

Jack Lew, President Obama's pick for Treasury secretary, appears headed toward confirmation by the full Senate. He fared well during his confirmation hearing at the Senate Finance Committee yesterday.

But as NPR's John Ydstie reports, Lew did get some pointed questions from Republicans about his brief career in the private sector as an executive of Citigroup.

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Politics
6:42 am
Sat January 12, 2013

What Would Obama Do (If There's No Debt Ceiling Deal)?

Originally published on Sat January 12, 2013 12:08 pm

Transcript

SCOTT SIMON, HOST:

This is WEEKEND EDITION from NPR News. I'm Scott Simon.

You might've chuckled a bit this week, if you heard about the trillion-dollar platinum coin plan, to perhaps address Washington, D.C.'s debt ceiling stalemate. But it will certainly be no laughing matter if the U.S. Congress refuses to raise the borrowing limit, and the U.S. government defaults on its debt. Global financial markets would likely plummet.

NPR's John Ydstie reports on some of the options the president has if he and Congress cannot reach an agreement.

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Economy
3:44 am
Fri January 11, 2013

Geithner Began With 'Smoldering' Economy; What Does He Leave?

In this handout image provided by the White House, President Obama talks with Treasury Secretary Timothy Geithner at the United Nations on Sept. 23, 2010.
The White House Getty Images

Originally published on Fri January 11, 2013 8:35 am

Outgoing Treasury Secretary Timothy Geithner has had a bruising four years. He took office when the U.S. economy was plunging into the worst recession since the Great Depression.

Nominating Jack Lew as Geithner's successor Thursday, President Obama praised his departing Treasury secretary for helping to get the economy back on track.

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Business
7:23 pm
Tue January 8, 2013

After The 'Fiscal Cliff,' Businesses Say Some Uncertainty Remains

U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during the tense negotiations to resolve the fiscal cliff. But the unemployment rate remained at 7.8 percent last month.
Damian Dovarganes AP

Businesses complained that the uncertainty surrounding the "fiscal cliff" froze their decisions about hiring and expanding, which hurt the economy. Washington has now managed half a deal, which settles tax issues, at least for the time being. But has that removed enough uncertainty to boost some business hiring and investment?

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It's All Politics
5:58 pm
Fri October 19, 2012

They Call The Election A Horse Race; It Has Real Bettors, Too

The Dublin-based prediction market site Intrade lets users bet money on whom they expect to win a variety of U.S. political races, including the presidential race.
NPR/Intrade screen grab

Originally published on Fri October 19, 2012 7:12 pm

By this point in the campaign season, the presidential polls may have your head spinning. Romney's up 7 points in one, Obama's up 3 in another ... and on any given day, a dozen other polls are swirling, each offering a different take.

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Solve This
4:29 am
Tue October 9, 2012

Romney's Jobs Plan Relies On His Tax Proposal

Republican presidential candidate Mitt Romney shakes hands during a rainy campaign rally Monday in Newport News, Va.
Evan Vucci AP

Originally published on Tue October 9, 2012 11:25 am

As part of Solve This, NPR's series on major issues facing the country, we're examining the presidential candidate's approach to boosting employment. After looking at President Obama's strategy, it's time to examine the plan of GOP nominee Mitt Romney.

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Solve This
4:35 pm
Mon October 8, 2012

Obama's Jobs Plan Focuses On Federal Investment

President Obama speaks during a campaign event at George Mason University in Fairfax, Va., on Friday.
Pablo Martinez Monsivais AP

Originally published on Tue October 9, 2012 7:48 am

In the next two installments of Solve This, NPR's series on the major issues facing the country, we'll examine each presidential candidate's approach to boosting employment. First, President Obama's strategy, then Mitt Romney's.

Job creation is the centerpiece of President Obama's campaign speeches.

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Economy
3:24 am
Fri September 28, 2012

Easy Money May Boost Economy But At What Cost?

Specialist David Pologruto works at his post on the floor of the New York Stock Exchange on Sept. 13, as Federal Reserve Chairman Ben Bernanke holds a news conference in Washington. The world's central banks are easing credit, putting more money into the global economy.
Richard Drew AP

Originally published on Fri September 28, 2012 12:31 pm

The world's central banks are pumping cash into their economies, pushing down interest rates in hopes the ready cash and lower rates will boost borrowing and economic activity. Everyone agrees the action is dramatic and unprecedented, but there's disagreement over whether they will do more harm than good.

Economists know very well the trillions of dollars being added by the central banks to the global economy can be risky.

"These are risks about long-term rises in inflation, housing bubbles potentially building up," says Jacob Kirkegaard of the Peterson Institute.

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Economy
4:49 am
Tue September 25, 2012

IMF's Lagarde: Uncertainty Slows Global Recovery

International Monetary Fund Managing Director Christine Lagarde delivers remarks at the Peterson Institute for International Economics on Monday in Washington, D.C. Lagarde said there are a number of factors eroding growth.
Paul J. Richards AFP/Getty Images

Originally published on Tue September 25, 2012 12:00 pm

Managing Director of the International Monetary Fund Christine Lagarde says recent actions by the European Central Bank mark a positive turning point in Europe's financial crisis. But she warned that uncertainty elsewhere will continue to slow the pace of the global recovery.

Back in July, the IMF was forecasting world growth of just under 4 percent for next year. The group's economists will issue a new forecast in a couple of weeks. Lagarde said the new projection still foresees a gradual recovery, but it will shave a few tenths of a percent off global growth.

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Economy
2:03 am
Thu September 13, 2012

Fed Stimulus Expected, But Remedy May Not Be Right

Federal Reserve Chairman Ben S. Bernanke in a hearing of the Joint Economic Committee on Capitol Hill in June.
Brendan Smialowski AFP/Getty Images

Originally published on Thu September 13, 2012 9:02 am

Federal Reserve policymakers are meeting in Washington, trying to decide whether — and exactly how — to boost the sluggish economy. Many analysts are expecting the Fed to take action, but they're also beginning to question whether another stimulus program will have any effect.

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Economy
4:45 pm
Tue September 11, 2012

U.S. Treasury Cuts Stake In AIG With $18 Billion Sale

Originally published on Tue September 11, 2012 9:57 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

MELISSA BLOCK, HOST:

And I'm Melissa Block. The U.S. government made a big chunk of money in the stock market today. It sold more than 630 million shares in AIG, the American International Group. The government reluctantly acquired the shares when it injected billions of dollars into the insurance giant to keep it from collapsing. The Treasury Department says the government turned a $15.1 billion dollar profit on the deal. Here's NPR's John Ydstie.

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