Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Mark Makela/Getty Images

Mike Bloomberg released Wednesday an economic agenda that focuses heavily on helping "the people and communities that have been short-changed by President Trump," per the plan's details, by creating jobs and increasing wages.

Why it matters: It's no secret Trump wants to run his re-election campaign on the economy, but Bloomberg is tapping into a conversation we're hearing from voters all across the country, whether in our focus groups or on the campaign trail: wages aren't keeping up and Trump isn't talking about that.

  • There might be more jobs available, but the wages aren't matching the demands of a 21st century lifestyle — and many Americans are piecing together multiple gigs to make ends meet.
  • Bloomberg will travel to Illinois, Minnesota and Ohio later today to sell his "All-in economy" agenda to voters there, and Axios will be at all three stops.
  • Hillary Clinton won two of those three states in 2016, with Trump taking Ohio.

What they're saying: "I know that our economy is working fine for people like me — and people like Donald Trump," Bloomberg said on a call with reporters yesterday morning. "But it is badly broken for the vast majority of Americans."

  • "He’s counting on the economy to lift him to victory — and he’s hoping to face a career politician who’s never created any jobs," he said, referring to his three terms as mayor of New York City, during which he created 400,000 jobs.

Between the lines: Through his policy rollout and travel, Bloomberg is trying to puncture a hole in the president's narrative of an economic boom for all Americans.

  • Bloomberg is visiting a community college on the South Side of Chicago, an area that is facing high levels of poverty even though it's in one of the country's wealthiest cities.
  • He'll speak to the concerns of displaced manufacturing workers in Akron, Ohio after that, and meet with farmers in Wells, Minn., who have been negatively affected by Trump's trade wars.

The big picture: Despite his late entrance into the 2020 presidential race, Bloomberg hasn't wasted any time releasing policy proposals and taking on Trump directly.

  • His "All-in economy" agenda starts with an investment in education and vocational training, so that Americans can get the skills that employers are prioritizing for hiring.
  • The plan also proposes launching "a major public research and development initiative in industries like agriculture, manufacturing, and medicine" to stimulate job growth.
  • Bloomberg also calls for a $15 minimum wage, an expansion of the Earned Income Tax Credit to better help gig-economy workers, and a proposed investment in rural broadband access.

A Bloomberg campaign official told Axios on the call yesterday that the exact costs of the plan are still being sorted out because "all of the plans he’s issuing are intertwined."

  • The campaign said they'll be releasing tax- and spending-related plans for Bloomberg's various policies "in the coming weeks."
  • While there's no hook to the release of this plan, Bloomberg's 2020 team said, given his focus on Super Tuesday, it's important to have "as many critical policy positions out for voters to understand and discuss sooner than later."

Go deeper:

Go deeper

50 mins 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.

2 hours ago - World

Saudi Arabia and Qatar near deal to end standoff, sources say

Qatar's prime minister (R) attends the 2019 Gulf Cooperation Council summit in Saudi Arabia. Photo: Fayez Nureldine/AFP via Getty

Saudi Arabia and Qatar are close to a deal to end the diplomatic crisis in the Gulf following U.S.-mediated reconciliation talks this week, sources familiar with the talks tell me.

Why it matters: Restoring relations between Saudi Arabia and Qatar would bring a sense of stability back to the Gulf after a 3.5 year standoff. It could also notch a last-minute achievement for the Trump administration before Jan. 20.

House passes bill to decriminalize marijuana

Rep. Earl Blumenauer (D-Ore.), a longtime marijuana legalization advocate and co-sponsor of the bill. Photo: Pete Marovich For The Washington Post via Getty Images

The House on Friday voted 228-164 in favor of the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, marking the first time a congressional chamber has voted in favor of decriminalizing marijuana at the federal level.

Why it matters: The Washington Post describes the bill as a "landmark retreat in the nation’s decades-long war on drugs," which has disproportionately affected people of color.