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
2:38 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 3:06 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
3:32 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 5:24 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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Economy
3:06 pm
Fri December 21, 2012

Failure To Avert Fiscal Cliff Could Damage World's Confidence In U.S.

Originally published on Fri December 21, 2012 7:21 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. It's time for Plan C. Washington's efforts to avoid massive tax hikes and spending cuts come January 1st seem to be in disarray. Last night, House Speaker John Boehner failed to get enough Republicans to go along with what he called his Plan B. NPR's John Ydstie talked with members of the business community about whether that failure is seen as a setback or clears the way for more productive negotiations.

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Business
2:53 am
Thu December 13, 2012

Fed To Keep Short-Term Interest Rates Low

Originally published on Thu December 13, 2012 7:03 am

Transcript

RENEE MONTAGNE, HOST:

In the U.S., the Federal Reserve now says it intends to keep its benchmark interest rate exceptionally low until the unemployment rate reaches six and a half percent. It's the first time the Fed has named a specific thresh-hold for when it would begin raising interest rates.

NPR's John Ydstie has more.

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Economy
3:23 pm
Wed December 12, 2012

Fed Tying Low Interest Rates To Job Creation

Originally published on Wed December 12, 2012 4:29 pm

Federal Reserve policymakers issued a statement Wednesday saying they will keep interest rates low until the unemployment rate falls to 6.5 percent. Identifying a specific target for unemployment is a big change for the Fed and is part of its effort to become more transparent.

Business
3:12 am
Thu December 6, 2012

Obama, Business Roundtable Disagree Over Taxes

President Obama is lobbying the CEOs of the nation's largest companies to support him as he tries to reach a budget deal with Republican lawmakers. The president met Wednesday with members of the Business Roundtable. The group urges the extension of Bush-era tax cuts for everyone, including the wealthy.

Politics
4:05 pm
Tue December 4, 2012

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

Originally published on Wed December 5, 2012 8:34 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
4:30 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 4:44 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
3:04 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 8:46 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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Business
2:48 pm
Mon November 26, 2012

Head Of SEC To Step Down After Four Years

Originally published on Mon November 26, 2012 4:18 pm

Securities and Exchange Commission (SEC) chairwoman Mary Schapiro is stepping down. She took over the agency in 2009 as it was reeling from criticism over the financial crisis and the Bernard Madoff's Ponzi scheme. Schapiro is credited as a consensus builder who restored some stability to the SEC. She is being replaced by SEC commissioner Elisse Walter.

Business
2:43 am
Thu November 22, 2012

More And More Airline Flights Are Filled To Capacity

Originally published on Thu November 22, 2012 2:52 am

Airlines are always crowded during the Thanksgiving holiday. But if you've had the feeling they're becoming more crowded all the time, it's not just your imagination. On average, more than 80 percent of airline seats have been filled and plenty of flights have been packed to capacity.

It's All Politics
1:25 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 8:38 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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Economy
3:06 am
Thu November 15, 2012

Studies Vary On How Many Jobs Will Be Lost If Taxes On The Wealthy Ride

Originally published on Thu November 15, 2012 5:07 am

Republicans claim President Obama's plan to raise taxes on the wealthy will cost the economy 700,000 jobs. Another study from the Congressional Budget Office puts the number of lost jobs as 200,000. But both studies also assume millions of new jobs will be created.

Politics
1:49 am
Mon November 12, 2012

Lew, Bowles Rumored To Replace Treasury's Geithner

Originally published on Mon November 12, 2012 3:43 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
4:12 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 10:17 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.
1:26 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 2:50 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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Presidential Race
3:21 pm
Tue November 6, 2012

How The New President Might Rebuild Top Cabinets

Originally published on Tue November 6, 2012 6:08 pm

Transcript

LYNN NEARY, HOST:

It's ALL THINGS CONSIDERED from NPR News. I'm Lynn Neary.

We're going to spend a few minutes now discussing possibilities. Regardless of who wins today's presidential contest, there are reasonable expectations that there will be new faces on the horizon. We've asked NPR reporters who cover some of the key Cabinet-level positions in the U.S. government to tell us about some of the names on that horizon. Let's start with NPR's State Department correspondent Michele Kelemen. Good to have you with us, Michele.

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Economy
3:21 am
Wed October 31, 2012

Sandy's Economic Toll Stretches Far And Wide

Originally published on Wed October 31, 2012 2:45 pm

Transcript

RENEE MONTAGNE, HOST:

Preliminary estimates of the destruction that Sandy left in its wake are that economic losses could total between 30 and $50 billion.

NPR's John Ydstie reports on the economic effects of the damage to infrastructure and disruption to business caused by this huge storm.

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It's All Politics
3:58 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 5:12 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
2:53 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 9:25 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
2:30 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 5:48 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
1:24 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 10:31 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
2:49 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 10:00 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
12:03 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 7:02 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
12:59 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 3:08 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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