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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5:02pm

Tue September 11, 2012
Economy

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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2:59pm

Sun September 9, 2012
Election 2012

Critics Say Ryan's Record Belies Tough Deficit Talk

Originally published on Sun September 9, 2012 5:08 pm

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

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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4:52am

Thu August 23, 2012
Business

Federal Reserve May Move To Boost Economy

Originally published on Thu August 23, 2012 5:14 am

Fed policymakers appeared to move closer to a decision to add more stimulus to the economy. That's according to minutes released of the Federal Open Market Committee's meeting. The minutes didn't say what the Fed is likely to do next, but indicated many officials supported keeping the federal funds rate at "exceptionally low levels" at least through late 2014.

4:49pm

Tue August 14, 2012
It's All Politics

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

Originally published on Thu August 16, 2012 1:07 pm

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

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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5:28pm

Wed July 25, 2012
Economy

Geithner Defends Response To LIBOR Scandal

Originally published on Wed July 25, 2012 7:29 pm

Treasury Secretary Timothy Geithner was on Capitol Hill Wednesday to talk about the implementation of Dodd Frank. But the questions focused on why the New York Fed, under Geithner, didn't act more aggressively when it first learned about possible manipulation of a key interest rate.

6:19pm

Tue July 24, 2012
U.S.

Offshore Jobs Play Role In Campaigns And Economy

Originally published on Wed July 25, 2012 5:46 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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4:33am

Wed July 18, 2012
Economy

Fed Chief Gives Gloomy Economic Review

Originally published on Wed July 18, 2012 9:57 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION from NPR News. Good morning, I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

We begin our program with two very different views of the economy. Two observers of the economy think the long-term looks very good, as we'll hear in a moment.

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5:52pm

Fri July 13, 2012
Business

Documents Lift Veil On Bank-Rate-Rigging Scandal

Originally published on Fri July 13, 2012 10:24 pm

Police wait for protesters to appear at a branch of Barclays Bank in London on July 4.
Olivia Harris Reuters/Landov

As the financial crisis began to unfold in 2007, the New York Federal Reserve learned that some banks might have intentionally underestimated the rates they expected to pay for loans from other banks.

Documents the New York Fed released Friday, in response to a request from Congress, show that the banking regulator began to be concerned about the accuracy of LIBOR — or the London Interbank Offered Rate — late in 2007.

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3:22am

Wed July 11, 2012
Economy

Euro Currency Still Faring Well, For Now

Originally published on Wed July 11, 2012 12:42 pm

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

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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6:05pm

Wed June 27, 2012
Europe

European Union Tradeoff: Sovereignty For Stability

Originally published on Wed June 27, 2012 6:50 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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