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Carolyn Kaster / AP

Ivanka Trump yesterday told Axios' Mike Allen that she is working to raise a large investment fund that will focus on women entrepreneurs around the world.

What we know: The focus will be on small and medium-sized companies around the world, and that early commitments have already come in from some government-linked investors in Canada, Germany and the Middle East. Helping to develop the project is Dina Powell, the former Goldman Sachs executive who had been advising Ivanka before being promoted to deputy national security advisor. A source says that Goldman Sachs has not received a commitment request (at least not yet).

[Update: Powell tells us that the fund will be managed by The World Bank, which has not yet responded to requests for comment.]

What we don't know: There are still a lot of questions about how this will work. While we work to get answers, here are our top six:

  1. Will these be investments seeking to generate a financial return, or will they be some sort of grant or loan?
  2. Who will be on the investment committee? Will they receive financial compensation?
  3. Are Trump, Powell or other White House employees actively soliciting contributions from foreign governments and/or private institutions (banks, foundations, etc.)? If so, has White House counsel signed off on it?
  4. Will the fund solicit capital from U.S. state pension funds, as do many more traditional private equity funds.
  5. Will the fund be registered with the SEC?
  6. How will the fund balance interests of U.S. companies that could receive direct competition from foreign startups that receive investment?

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Axios Re:Cap digs in with former FDA commissioner Rob Calif about the EUA process, the science and who should make the final call.

11 mins ago - Politics & Policy

The recovery needs rocket fuel

Data: BLS. Chart: Axios Visuals

Friday's deeply disappointing jobs report should light a fire under Congress, which has dithered despite signs the economy is struggling to kick back into gear.

Driving the news: President-elect Biden said Friday afternoon in Wilmington that he supports another round of $1,200 checks.

1 hour ago - Health

CDC: It's time for "universal face mask use"

Photo: Paul Hennessy/SOPA Images/LightRocket via Getty

The CDC is urging “universal face mask use” for the first time since the coronavirus pandemic began, citing recent case spikes as the U.S. has entered a phase of “high-level transmission” before winter officially begins.

Why it matters: Daily COVID-related deaths across the U.S. hit a new record on Wednesday. Face coverings have been shown to increase protection of the wearer and those around them, despite some Americans' reluctance to use them.