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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Business
4:24 am
Tue May 21, 2013

CEO Cook To Defend Apple Before Senate Committee Hearing

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

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

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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Business
5:25 am
Fri May 17, 2013

Obama Names OMB Controller As Acting IRS Commissioner

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.

Economy
5:27 pm
Thu May 2, 2013

Housing Recovery Lifts Other Sectors, Too

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

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

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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Business
7:49 pm
Thu April 25, 2013

Regulators Warn Banks On Direct-Deposit Loans

Regulators are warning some of the nation's largest banks to stop offering loans that are hard to distinguish from those given out by storefront payday lenders.
CX Matiash AP

Originally published on Thu April 25, 2013 8:16 pm

Consumer advocates call them "debt" traps. The banks that offer them call them direct-deposit advances and describe them as available funds for short-term emergencies.

But the cash advances have many of the negative characteristics of payday loans. And on Thursday, U.S. bank regulators took a step toward protecting consumers from the risks they pose. The regulators proposed standards for "deposit-advance products."

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Business
5:49 pm
Thu April 11, 2013

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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Business
6:04 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 7:51 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
5:35 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 11:49 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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Business
6:05 am
Thu February 14, 2013

Lew Expected To Be Confirmed As Treasury Secretary

Originally published on Fri February 15, 2013 3:05 am

Transcript

LINDA WERTHEIMER, HOST:

Jack Lew, President Obama's pick for Treasury secretary, appears headed toward confirmation by the full Senate. He fared well during his confirmation hearing at the Senate Finance Committee yesterday.

But as NPR's John Ydstie reports, Lew did get some pointed questions from Republicans about his brief career in the private sector as an executive of Citigroup.

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