John Ydstie
John Ydstie has covered the economy, Wall Street, and the Federal Reserve at NPR for nearly three decades. Over the years, NPR has also employed Ydstie's reporting skills to cover major stories like the aftermath of Sept. 11, Hurricane Katrina, the Jack Abramoff lobbying scandal, and the implementation of the Affordable Care Act. He was a lead reporter in NPR's coverage of the global financial crisis and the Great Recession, as well as the network's coverage of President Trump's economic policies. Ydstie has also been a guest host on the NPR news programs Morning Edition, All Things Considered, and Weekend Edition. Ydstie stepped back from full-time reporting in late 2018, but plans to continue to contribute to NPR through part-time assignments and work on special projects.
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 was one of the first reporters on the scene after Saddam Hussein's Iraqi army invaded Kuwait. He accompanied U.S. troops to Saudi Arabia as a member of the Pentagon press pool sent to cover the Iraqi invasion for U.S. media outlets.
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 Award for its coverage of Sept. 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. In 2016, Ydstie received a Gerald Loeb Award for financial reporting for his contributions to an NPR series on financial planning.
Prior to joining NPR, Ydstie was a reporter and producer at Minnesota Public Radio. Ydstie is a graduate of Concordia College in Moorhead, Minnesota, where he is now on the Board of Regents. He 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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The stock market fell again on Thursday, a day after Federal Reserve Chairman Ben Bernanke outlined plans to phase out the Fed's stimulative bond-buying program. The Dow was down 350 points in late afternoon trading.
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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.
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President Obama says he won't negotiate about the borrowing limit. He says the Congress must raise the debt ceiling to pay for spending it's already OK'd. But Republicans say they'll use the threat of default to get more spending cuts from the White House. Obama still has some options if he and Congress can't reach an agreement.
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With the election over, attention in Washington has turned to the nation's debt and deficit challenges — most immediately $600 billion worth of expiring tax breaks and automatic spending cuts. Both the president and congressional leaders are signaling a willingness to work together to avoid a fiscal disaster. -
Lynn Neary speaks with four NPR correspondents who cover presidential cabinet offices whose chiefs may be replaced, regardless of who wins the presidential election. Secretary of State Hilary Clinton intends to leave the administration even if President Obama continues in office. State Department correspondent Michele Kelemen assesses who the president might choose to replace her or who Mitt Romney might choose to be his Secretary of State. Defense correspondent Tom Bowman looks at the possibilities of who might replace Secretary of Defense Leon Panetta. Justice correspondent Carrie Johnson goes over the names in play among Democrats and Republicans for the Attorney General's office. And John Ydstie takes a look at who might be the next Secretary of the Treasury.
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The Federal Reserve is meeting in Washington to discuss what to do with the sluggish economy. Analysts believe the Fed will take action, but some economists wonder if it will have an effect — or even be counterproductive. -
Federal Reserve Chairman Ben Bernanke told lawmakers that progress toward bringing down the nation's high unemployment rate will be "frustratingly slow." He reiterated previous statements that the Fed stands ready to do more, but declined to be specific about what it would do. Bernanke also defended the Fed's role in addressing the manipulation of a benchmark interest rate by at least one big bank.
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The New York Federal Reserve learned in 2007 that some banks might have low-balled the rates they expected to pay for loans from other banks. They may have manipulated the so-called LIBOR rate in an attempt to avoid appearing weak, which would have meant they'd have to pay higher rates, newly released documents show. -
Despite the persistence of the European financial crisis, the euro has held up relatively well since the crisis began. While the currency has lost some value against the dollar, its performance has defied ongoing speculation that the currency union is doomed. But can it last? -
Despite the persistence of the European financial crisis, the euro has held up relatively well since the crisis began. While the currency has lost some value against the dollar, its performance has defied ongoing speculation that the currency union is doomed. But can it last?
