Republican Hedge Fund Mogul Enters PA Senate Race

Bloomberg News reports:

David McCormick, who stepped aside earlier this month as chief executive officer at giant hedge fund Bridgewater Associates, filed the paperwork needed to enter the Republican primary for a U.S. Senate seat in Pennsylvania.

The first-time politician filed a statement of candidacy Wednesday with the U.S. Federal Election Commission. McCormick is jumping into the race to succeed Republican Pat Toomey, who is retiring, in a field that includes celebrity physician Mehmet Oz, among others.

He’s half of a finance power couple along with Goldman Sachs Group Inc.’s Dina Powell McCormick, his second wife, and the race will test whether his finance background resonates with an increasingly populist Republican base. Powell was Trump’s deputy national security adviser.

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