Economic Recovery Slows; Deficit Surges

By John Ydstie

Published July 29, 2004 at 11:00 PM CDT

The Bush administration reports the pace of the U.S. economic recovery slowed in the second fiscal quarter, to an annual rate of 3 percent. That's down from a revised 4.5 percent growth rate in the first three months of the fiscal year. In a separate statement, the Bush administration said the federal deficit will grow to a record $445 billion. NPR's John Ydstie reports.

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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.

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