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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.

President-elect Donald Trump has picked his campaign finance chairman, Steve Mnuchin, to be his Treasury secretary. The Wall Street banker spent 17 years at Goldman Sachs, where he was a partner, and is now chief executive of Dune Capital Management, a privately owned hedge fund. Mnuchin confirmed his selection Wednesday during a joint CNBC interview with billionaire investor Wilbur Ross Jr. , who has been tapped for commerce secretary. "Steve Mnuchin is a world-class financier, banker and...

After campaigning with lots of populist and anti-Wall Street rhetoric, Donald Trump is seriously considering a veteran Wall Street financier, Steve Mnuchin, to be his Treasury secretary. Mnuchin spent 17 years at Goldman Sachs, ultimately as a partner at the investment bank. More recently, he's headed a privately owned hedge fund, Dune Capital Management. Last April he became Trump's chief fundraiser, and he's now a member of the president-elect's transition team. But Mnuchin's resume also...

During the presidential campaign, Donald Trump promised the biggest tax cut since Ronald Reagan's conservative revolution swept into Washington in the 1980s. A big part of that tax cut would go to corporations. The president-elect says that will fuel investment and growth. Skeptics say the plan would explode the federal budget deficit. Top business tax rate slashed Trump's proposal would slash the top business tax rate from 35 percent, the highest in the industrial world, to 15 percent — but...

Donald Trump has proposed a very detailed tax plan — but his statements on the campaign trail don't always match what his proposal would really do. For instance, at a rally in Scranton, Pa., Trump promised to "massively cut taxes for the middle class, the forgotten people, the forgotten men and women of this country, who built our country." During a town hall meeting on NBC's Today show, he said he believes in raising taxes on the wealthy. And at least half of Trump's supporters agreed with...

Copyright 2016 NPR. To see more, visit http://www.npr.org/. AUDIE CORNISH, HOST: The government has released its last jobs report before Election Day. It shows the U.S. economy improved in October. As NPR's John Ydstie reports, it was strong wage growth that grabbed the spotlight. JOHN YDSTIE, BYLINE: Job growth was not quite as robust as economists had forecast, but 161,000 additional workers were added to payrolls last month and the unemployment rate dropped a tick to 4.9 percent. Not a...

Chair Janet Yellen and her colleagues at the Federal Reserve didn't surprise anyone when they announced Wednesday they were not raising their benchmark interest rate. Fed policymakers decided to keep the federal funds rate in a range between one-quarter and one-half percent. That's where it's been since last December when the Fed lifted the rate a quarter of a point from near zero — where it had been left for seven years as the central bank tried to support growth coming out of the Great...

So you think that beer you brewed in your kitchen is ready for prime time, and you're thinking, "Maybe I should take the plunge and set up a little craft brewery." You're not the only one with dreams infused with hops and malting barley. During the past couple of years, new breweries were being launched at the rate of three a day in the U.S. New District Brewing is one of them. It just popped up in a cinder-block building in an Arlington, Va., light-industrial park. On this particular evening...

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Most election prediction models that try to forecast who's going to win the presidency take into account some measure of how the economy is doing. That's because generally if it's going strong in the six months or so before the election, history suggests the party currently in the White House will win. If the economy stinks, the party not in the White House takes over. But, what if the economy is just so-so like it is now? "The tie-breaker as of today is really gasoline prices," says...

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The outlook for global economic growth got downgraded yet again, this time by economists with the International Monetary Fund's economists. In January, they thought the global economy would grow 3.4 percent this year, but they ratcheted that down to 3.2 percent in the latest version of their World Economic Outlook. U.S. growth for 2016 got trimmed by the same amount in the report released Tuesday , down to 2.4 percent. So what's going on? Here are five key factors from the WEO. 1. Fallout...

The revelations in the Panama Papers have generated anger and disgust. Politicians and leaders in countries from Russia to Iceland to the oil-rich Gulf States are implicated. The irony is that while the shady world of shell corporations and offshore accounts is still massive — costing governments hundreds of billions of dollars a year — the global community has made significant strides toward reining it in. Pascal Saint-Amans, of the Organization for Economic Cooperation and Development's...

In the past, falling oil prices have given a boost to the world economy, but recent forecasts for global growth have been ratcheted down, even as oil prices sink lower and lower. Does that mean the link between lower oil prices and growth has weakened? Jason Bordoff, head of the Center on Global Energy Policy at Columbia University, says there are still good reasons to believe cheap oil should heat up the world economy. "Consumers have more money in their pockets when they're paying less at...

Copyright 2016 NPR. To see more, visit http://www.npr.org/. Transcript LINDA WERTHEIMER, HOST: It was another wild week for the global financial markets. There was some relief yesterday when stocks rallied. But overall, the stock market has lost 10 percent of its value since the beginning of the year. As NPR's John Ydstie reports, while the financial markets have been flashing warning signs, the broader economy keeps chugging along. JOHN YDSTIE, BYLINE: Liz Ann Sonders, chief investment...

Copyright 2016 NPR. To see more, visit http://www.npr.org/. Transcript ARI SHAPIRO, HOST: World financial markets are in more turmoil today as investors try to figure out what's going on with the global economy. In Washington, lawmakers were trying to do the same thing as they quizzed Federal Reserve Chair Janet Yellen for the second day in a row. NPR's John Ydstie reports. JOHN YDSTIE, BYLINE: Today, Yellen was at the Senate Banking Committee delivering her semiannual report on the U.S....

Copyright 2016 NPR. To see more, visit http://www.npr.org/. Transcript ARI SHAPIRO, HOST: A reality check today from Federal Reserve Chair Janet Yellen. She acknowledged that the U.S. economy is facing a higher level of risk than just a few months ago. NPR's John Ydstie reports. JOHN YDSTIE, BYLINE: Yellen was on Capitol Hill giving her semi-annual report to Congress on the health of the U.S. economy, and here's what she had to say in her opening statement. (SOUNDBITE OF ARCHIVED RECORDING)...

Copyright 2016 NPR. To see more, visit http://www.npr.org/. RENEE MONTAGNE, HOST: You need only look back a couple of years to find a barrel of oil selling for $100. These days, the price is less than a third of that. And the International Energy Agency said yesterday that an oversupply and weak demand could push prices even lower. That price collapse is causing chaos in the oil industry and a quarter-million jobs lost around the world. NPR's John Ydstie checked in on some of those affected...

As the old saying goes, the stock market has predicted nine of the last five recessions. In other words, sharply falling stock markets are crying wolf about half the time. Dyke Messinger, who runs a small manufacturing company in Salisbury, N.C., thinks stock investors have been overreacting during this sell-off. "It is bizarre to me when we see what we believe is good core strength in the U.S. market," he says. Messinger's market is the construction industry. His company, Power Curbers,...

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Copyright 2015 NPR. To see more, visit http://www.npr.org/. Transcript AUDIE CORNISH, HOST: In December of 2008, the Federal Reserve cut interest rates to near zero to combat the financial crisis and the Great Recession. This Wednesday, exactly seven years later, the Fed is on track to increase interest rates for the first time since. As NPR's John Ydstie reports, analysts are split on whether the timing is right. JOHN YDSTIE, BYLINE: Carl Tannenbaum is the chief economist at Northern Trust...

Copyright 2015 NPR. To see more, visit http://www.npr.org/. Transcript DAVID GREENE, HOST: All right. We have an update this morning on that Volkswagen emissions scandal. Company officials are describing progress in internal and external investigations of this scandal that involved 11 million of Volkswagen's diesel vehicles. Those vehicles were outfitted with software that allowed them to cheat on emissions tests. NPR's John Ydstie joins us to turn talk about what we're learning. John, good...

Copyright 2015 NPR. To see more, visit http://www.npr.org/. Transcript STEVE INSKEEP, HOST: The U.S. government reports another month of solid job growth. It happened in November, when employers added 211,000 jobs, according to the government. That sets the stage for the Federal Reserve to raise interest rates later this month. NPR's John Ydstie reports. JOHN YDSTIE, BYLINE: Job creation was widespread across the economy in November, with only a couple of industry sectors lagging. Mining,...

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