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Michael Bloomberg joins the presidential race

Michael Bloomberg announced yesterday that he would run for the 2020 Democratic presidential nomination, bringing his huge personal fortune and moderate views to an already crowded race, the NYT’s Alexander Burns writes.

He is presenting himself as a multibillion-dollar threat to President Trump. The current president “represents an existential threat to our country and our values,” Mr. Bloomberg said in a statement.

• “Defeating Donald Trump — and rebuilding America — is the most urgent and important fight of our lives,” Mr. Bloomberg said.