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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5:43pm

Tue May 21, 2013
Business

Apple CEO Defends Tax Practices At Senate Hearing

Transcript

ROBERT SIEGEL, HOST:

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

MELISSA BLOCK, HOST:

And I'm Melissa Block.

The top executives of Apple faced tough questions today on Capitol Hill. They came at a hearing about Apple's alleged avoidance of billions of dollars in U.S. income taxes. Yesterday, Senate investigators released a study describing how the maker of the iPhone, iPad and Mac computers used subsidiaries based in Ireland to avoid income taxes on a big chunk of its global profits.

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4:24am

Tue May 21, 2013
Business

CEO Cook To Defend Apple Before Senate Committee Hearing

Originally published on Tue May 21, 2013 11:13 am

Apple CEO Tim Cook speaks during an introduction of the iPhone 5 in San Francisco on Sept. 12. The Senate Permanent Subcommittee on Investigations says Apple is paying billions of dollars less than it should in taxes each year, taking advantage of technicalities in U.S. and Irish tax laws.
Eric Risberg AP

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend the company.

The subcommittee's report says Apple avoids the tax payments mainly by shifting profits to three subsidiary companies in Ireland. The investigation found Apple is taking advantage of technicalities in U.S. and Irish tax laws to avoid paying any tax on a huge portion of its profits.

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5:07am

Fri May 17, 2013
Business

Obama Names OMB Controller As Acting IRS Commissioner

Originally published on Fri May 17, 2013 5:25 am

On Thursday, President Obama named Daniel Werfel, 42, acting IRS commissioner. The announcement comes a day after the resignation of Steven Miller, who got caught up in the controversy over the IRS targeting Tea Party groups.

5:16am

Thu May 16, 2013
Asia

Yen's Drop In Value Could Fuel Curency War

Transcript

STEVE INSKEEP, HOST:

Japan's economy is finally getting a lift. The stock market is soaring there. Companies like Toyota and Sony are seeing a surge in profits. And today, Japan's government reported the economy grew a three-and-a-half percent annual rate in the first three months of the year, a significant improvement.

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6:19am

Wed May 15, 2013
Business

Budget Deficit Outlook Improves Since February

Originally published on Wed May 15, 2013 11:22 am

Copies of President Obama's budget plan for fiscal 2014 are prepared for delivery at the U.S. Government Printing Office in Washington in April. The Congressional Budget Office has sharply cut the outlook for the federal deficit.
J. Scott Applewhite AP

As the economy improves, the federal budget deficit is growing dramatically smaller. The Congressional Budget Office has sharply revised its estimates from just a few months ago, knocking off $200 billion in red ink for the current fiscal year. Some temporary factors are being cited for the projected improvement.

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5:27pm

Thu May 2, 2013
Economy

Housing Recovery Lifts Other Sectors, Too

Originally published on Thu May 2, 2013 6:00 pm

Chevy trucks line the lot of a dealer in Murrysville, Pa. Sales were up by double digits at Chrysler, General Motors and Ford last month.
Gene J. Puskar AP

The government's employment report for April comes out Friday. It's an important measure of the economy's health and the advance signals have been mixed. One report this week showed layoffs falling to a five-year low, but another suggests disappointing jobs creation.

At least one sector is providing some positive news for the job market: housing.

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4:42am

Wed April 17, 2013
Economy

IMF Trims Its Global Growth Forecast

Originally published on Wed April 17, 2013 2:46 pm

Transcript

STEVE INSKEEP, HOST:

The International Monetary Fund has trimmed its forecast for global growth.

NPR's John Ydstie reports the outlook was adjusted downward, largely because so much of Europe is still in recession.

JOHN YDSTIE, BYLINE: The IMF projects the Euro area economy will shrink three-tenths of a percent this year, but return to positive growth next year.

Meanwhile, the IMF forecast, called the World Economic Outlook, predicts the U.S. will grow just under two percent this year and around three percent in 2014.

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5:49pm

Thu April 11, 2013
Business

Japan's Big Stimulus Move Shocks Globe's Market Watchers

Passersby watch share prices spike in Tokyo on April 4, the day Japan's central bank announced a massive purchase of government bonds. The bank hopes the scale of the effort will boost Japan's slow-moving economy.
Yoshikazu Tsuno AFP/Getty Images

Currency traders were stunned last week by aggressive action from Japan's central bank. The Bank of Japan embarked on a bond-buying program that, by one measure, is twice the size of the extraordinary moves by Ben Bernanke and the Federal Reserve in the United States. The BOJ's move is an effort to shock the Japanese economy out of more than a decade of sluggish growth and deflation.

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3:07am

Fri March 29, 2013
Economy

Cyprus' Crisis Frames Eurozone As 'Work In Progress'

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

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

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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4:38am

Fri March 22, 2013
Business

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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