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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Two-thirds of the sum will be set aside to compensate U.S. owners of nearly 500,000 VW diesel cars. The company will also pay $2.7 billion into an environmental remediation fund.
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Job growth was at a crawl in May, according to the government's monthly report released Friday; only 38,000 new jobs were added to payrolls. But unemployment fell to it's lowest level since 2007.
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On Friday, the Labor Department releases May's jobs report. It's the final report before the Federal Open Market Committee's next meeting, at which some expect the federal funds rate will be raised.
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After months of negotiations, Volkswagen has reached a deal with U.S. authorities on most of the cars involved in its diesel emissions scandal. The agreement covers nearly 500,000 2-liter engine cars. Owners will get to choose between having VW buy back their vehicles or having their cars fixed. But owners still don't know how much VW will offer in the buyback, or what the terms of a fix will be.
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Federal Reserve Chair Janet Yellen made clear in congressional testimony Wednesday she sees an economy that faces increased risk. Her assessment was sufficiently downbeat to practically remove the possibility of another interest rate hike at the Fed's next monetary policy meeting in March.
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When you pull up to the gas pump, low oil prices may make you smile. Low prices are wreaking havoc in oil states. We check in with a big oil field services firm based in Texas to assess the damage.
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Replacing fossil fuels with renewable energy to combat climate change will require trillions of dollars in investment. Cheap prices for fossil fuels are making that transition a bit more complicated.
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China's slowdown and plummeting oil prices have investors spooked, and some are heading for the exits. There's concern the selloff in stocks signals tougher times ahead for the U.S. economy.
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The Labor Department on Friday reported the U.S. economy added 292,000 jobs in December, and the unemployment rate stayed at 5 percent. Wage growth continued to be weak, but 2016 should bring a boost.
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Global oil prices dropped again, falling to an 11-year low on Wednesday as investors worried about weak demand for refined petroleum products. New government data show U.S. stockpiles of gasoline and distillates, including diesel fuel and heating oil, soared in recent days, offsetting a decline in crude supplies. Taken together, crude and refined products are now at a record high, and that glut is driving retail prices lower.