John Ydstie
John Ydstie has covered the economy, Wall Street, and the Federal Reserve at NPR for nearly three decades. Over the years, NPR has also employed Ydstie's reporting skills to cover major stories like the aftermath of Sept. 11, Hurricane Katrina, the Jack Abramoff lobbying scandal, and the implementation of the Affordable Care Act. He was a lead reporter in NPR's coverage of the global financial crisis and the Great Recession, as well as the network's coverage of President Trump's economic policies. Ydstie has also been a guest host on the NPR news programs Morning Edition, All Things Considered, and Weekend Edition. Ydstie stepped back from full-time reporting in late 2018, but plans to continue to contribute to NPR through part-time assignments and work on special projects.
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 was one of the first reporters on the scene after Saddam Hussein's Iraqi army invaded Kuwait. He accompanied U.S. troops to Saudi Arabia as a member of the Pentagon press pool sent to cover the Iraqi invasion for U.S. media outlets.
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 Award for its coverage of Sept. 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. In 2016, Ydstie received a Gerald Loeb Award for financial reporting for his contributions to an NPR series on financial planning.
Prior to joining NPR, Ydstie was a reporter and producer at Minnesota Public Radio. Ydstie is a graduate of Concordia College in Moorhead, Minnesota, where he is now on the Board of Regents. He 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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Stocks plunged on Wednesday. The Dow Jones Industrial Average fell more than 800 points, about 3.1 percent. The Nasdaq composite was down more than 4 percent at the close.
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Exxon Mobil pledges to support passage of a carbon tax. Analysts say the company would rather face a single, overarching tax than a patchwork of taxes and regulation to address climate change.
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A jobs report released by the government on Friday showed unemployment falling to 3.7 percent — the lowest rate in nearly 50 years.
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President Trump is touting his trade agreement with Mexico, but big questions remain about how much the new rules will change the trade landscape.
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Whiskey distillers in the U.S. are concerned EU tariffs will take a big bite out of sales. Many have expanded to meet growing demand and worry what will happen if trade frictions aren't resolved soon.
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Commerce Secretary Wilbur Ross said tariffs on U.S. allies were necessary to prevent China from "trans-shipping" goods through those countries. He also said China would not change its policies if the U.S. doesn't continue to apply pressure.
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The U.S. steel industry has enjoyed protection from foreign competitors since the 1790s. It says new import tariffs are actually just leveling the playing field and shouldn't be labeled "protection."
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President Trump says he intends to impose stiff tariffs on imported steel and aluminum. Many experts say the costs of such a policy will far outweigh the benefits.
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The president promised steel and aluminum executives that he will levy tariffs on imports of their products in coming weeks. The tariffs will be 25 percent for steel and 10 percent for aluminum.
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Companies like Wal-Mart say tax cuts are making it possible for them to boost wages. But other economic factors could also be contributing to pay increases.