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
2:07 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 10:14 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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Business
5:21 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 6:51 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
4:35 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 10:49 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
2:44 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 7:35 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
5:43 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

Originally published on Tue January 8, 2013 6:23 pm

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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Economy
3:38 pm
Fri December 28, 2012

Reading The Economic Tea Leaves For 2013

A housing revival will be key to an economic recovery in 2013, analysts say.
Jonathan Ernst Reuters /Landov

Originally published on Fri December 28, 2012 4:06 pm

The U.S. economy was a bit of a disappointment in 2012. During the early months of the year, job creation was surprisingly strong, but by the end of the year, uncertainty about the election and the "fiscal cliff" slowed the economy's forward motion. So will 2013 look any better?

Mark Zandi of Moody's Analytics says that while Washington likely will steer us away from the fiscal cliff at the last minute, some elements of the deal will be a drag on the economy early in 2013.

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Economy
4:32 pm
Wed December 26, 2012

The Fed Boosts The Economy, But What About The Risks?

Federal Reserve Chairman Ben Bernanke speaks during a news conference in Washington on Dec. 12. Some economists worry the Fed has set the stage for inflation as well as stock and housing bubbles by keeping interest rates low.
Kevin Lamarque Reuters /Landov

Originally published on Wed December 26, 2012 6:24 pm

The Federal Reserve continued to keep its foot on the accelerator in 2012, using unusual tactics to try to boost economic growth. But there's disagreement among economists about whether the Fed's policies were effective or whether the risks to the economy outweighed the rewards.

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Around the Nation
5:54 am
Sat December 8, 2012

Unemployment Rate Drops, But Picture Not All Rosy

Originally published on Sat December 8, 2012 6:37 am

Transcript

SCOTT SIMON, HOST:

This is WEEKEND EDITION, from NPR News. I'm Scott Simon. Turns out that Superstorm Sandy didn't do as much damage as many expected, to the nation's unemployment predicament. At least, that's what the government's monthly data on the jobs market told us yesterday. As NPR's John Ydstie reports, analysts and businesses are already looking past that report, to the dangers to jobs posed by the fiscal cliff.

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Politics
5:05 pm
Tue December 4, 2012

Social Security's COLA At Stake In 'Fiscal Cliff' Talks?

Originally published on Wed December 5, 2012 9:34 am

The Republican plan to avert the "fiscal cliff" that the White House rejected Monday includes at least one element that's likely to produce controversy: a proposal that would, among other things, affect the cost of living adjustment for Social Security.

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It's All Politics
5:23 pm
Fri November 30, 2012

Raising Taxes On The Rich: Canny Or Counterproductive?

Sen. Charles Schumer, D-N.Y. (right), shown at a news conference Thursday on Capitol Hill with Senate Majority Leader Harry Reid, is arguing for raising taxes on the wealthy as part of a deal to avoid the fiscal cliff.
J. Scott Applewhite AP

Originally published on Fri November 30, 2012 5:44 pm

As negotiations continue in Washington over a plan to avoid the fiscal cliff — that combination of tax hikes and spending cuts scheduled for Jan. 1 — one big sticking point is whether to raise tax rates for high-income Americans.

Congress and the White House constructed the cliff last year, thinking it would force them to focus on solving the deficit problem. But they're still battling over what approach makes the most sense.

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It's All Politics
4:04 am
Fri November 30, 2012

How Much Income Taxes Could Rise: A Breakdown Of The Options

House Speaker John Boehner of Ohio speaks to reporters on Capitol Hill Thursday after private talks with Treasury Secretary Timothy Geithner.
J. Scott Applewhite AP

Originally published on Fri November 30, 2012 9:46 am

"No substantive progress has been made." That's what House Speaker John Boehner had to say Thursday about efforts to avoid automatic spending cuts and tax increases at year's end.

The administration's lead negotiator, Treasury Secretary Tim Geithner, met with congressional leaders from both sides of the aisle Thursday, looking for an agreement on the hazard Congress and the White House created last year to focus their minds on deficit reduction.

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It's All Politics
2:25 am
Mon November 19, 2012

In Fiscal Cliff Talks, Higher Taxes Vs. Closing Loopholes

President Obama, accompanied by House Speaker John Boehner of Ohio, speaks to reporters at the White House on Friday during a meeting to discuss the fiscal cliff.
Carolyn Kaster AP

Originally published on Tue November 20, 2012 9:38 am

The White House and Congress continue to work on a deal that avoids the fiscal cliff and cuts deficits in the long run. One of the biggest hurdles is President Obama's proposal to raise tax rates for the wealthy.

Republicans think a better course would be to raise revenue by closing loopholes and limiting deductions for high-income people. The question is, could that method raise enough money.

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Politics
2:49 am
Mon November 12, 2012

Lew, Bowles Rumored To Replace Treasury's Geithner

Originally published on Mon November 12, 2012 4:43 pm

A second term means some new Cabinet appointments for President Obama, including at the Treasury. After four pretty grueling years, Secretary Timothy Geithner has made it clear he will be leaving Washington.

White House press secretary Jay Carney said last week that Geithner would be staying on through the inauguration. He's also expected to be a "key participant" in "fiscal cliff" negotiations.

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It's All Politics
5:12 pm
Fri November 9, 2012

The Upside To Plunging Off The Fiscal Cliff

With Congress on the edge of a fiscal cliff, set to occur Jan. 1, some say a fiscal plunge is exactly what's needed to break the political logjam.
iStockphoto.com

Originally published on Fri November 16, 2012 11:17 am

Now that the election is over, Washington is transfixed by the fiscal cliff, the automatic tax increases and spending cuts due to take effect Jan. 1 if nothing is done.

The sudden shock could seriously damage the economy.

But some Democrats and policy analysts are suggesting that going over the fiscal cliff could help break the political logjam.

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U.S.
2:26 am
Thu November 8, 2012

Opening Lines Set For A Deal To Avoid Fiscal Cliff

Speaker John Boehner, R-Ohio, said Wednesday that House Republicans are willing to accept new revenues "under the right conditions."
J. Scott Applewhite AP

Originally published on Thu November 8, 2012 3:50 pm

With the election over, attention in Washington has turned to the nation's debt and deficit challenges — most immediately the looming fiscal cliff. That's the $600 billion worth of expiring tax breaks and automatic spending cuts set to start taking effect Jan. 1.

The president and Congress agreed to those automatic measures to force themselves to find a more palatable compromise to rein in deficits. On Wednesday, there was an attempt to jump-start that process.

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Solve This
3:53 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 10:25 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
3:41 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 6:48 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
2:24 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 11:31 am

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
6:42 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 11:00 am

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
1:03 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 8:02 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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Election 2012
1:59 pm
Sun September 9, 2012

Critics Say Ryan's Record Belies Tough Deficit Talk

Paul Ryan waves as he takes the stage at the Republican National Convention in Tampa, Fla., on Aug. 29. Ryan has been celebrated as a deficit hawk with bold vision, but some critics have called his record on deficit-reduction "dismal."
Chip Somodevilla Getty Images

Originally published on Sun September 9, 2012 4:08 pm

Paul Ryan has a reputation as a deficit hawk. Mitt Romney's running mate has proposed budgets that cut non-defense spending significantly, and advocated controlling Medicare costs by making it a voucher program. But critics argue there's a lot in the Wisconsin congressman's record that undermines his deficit-hawk reputation.

When Ryan gave the GOP response to President Obama's State of the Union address last year, he restated his commitment to debt and deficit reduction.

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It's All Politics
3:49 pm
Tue August 14, 2012

Ryan's Mission For Fed: Focus On Prices, Not Unemployment

House Budget Committee Chairman Paul Ryan, R-Wis., shakes hands with Federal Reserve Chairman Ben Bernanke at the close of the committee's hearing on the state of the economy in February 2011.
J. Scott Applewhite AP

Originally published on Thu August 16, 2012 12:07 pm

Mitt Romney's new running mate has authored some provocative policy proposals to cut budget deficits and overhaul Social Security, Medicare and Medicaid. But Rep. Paul Ryan has also been an advocate for a different course for the central banking system of the United States, the Federal Reserve.

For the past 35 years, the Fed has had a dual mandate from Congress: to set interest rates at levels that will both foster maximum employment and keep prices stable. Put another way, the Fed's goals are to get unemployment as low as possible while keeping inflation in check.

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U.S.
5:30 pm
Tue July 24, 2012

Offshore Jobs Play Role In Campaigns And Economy

Originally published on Wed July 25, 2012 4:46 pm

President Obama and Republican challenger Mitt Romney have been trading attacks over the issue of American jobs being moved overseas.

The president has pounded Romney for the investments made by his former firm Bain Capital in the 1990s. Not to be outdone, the Romney campaign has suggested most of the money from the president's stimulus program went to create jobs overseas.

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Economy
2:22 am
Wed July 11, 2012

Euro Currency Still Faring Well, For Now

Over the last 13 years, the euro has been worth on average $1.21, only a penny less than its current price of $1.22 per euro.
Michael Probst AP

Originally published on Wed July 11, 2012 11:42 am

The euro touched a two-year low against the dollar Tuesday, as concerns about the eurozone debt crisis continued.

Despite a recession across much of the eurozone and even predictions of the currency's demise, however, the euro has held up relatively well during this crisis.

Over the last 13 year, it has taken on average $1.21 to buy a euro. Now, even in this midst of this crisis, it's worth virtually the same ($1.22).

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Europe
4:13 pm
Wed June 27, 2012

European Union Tradeoff: Sovereignty For Stability

Originally published on Wed June 27, 2012 5:50 pm

In order to salvage its common currency, Europe is working toward a tighter fiscal union. That will require a tradeoff — sovereignty for economic stability. Over the next two days European Union leaders will try to come to an agreement to boost growth.

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