U.K. Chancellor of the Exchequer Kwasi Kwarteng has been fired over his handling of a recent economic crisis that saw bond markets crash.
He left an International Monetary Fund gathering in Washington earlier than planned and was promptly relieved of his position in a meeting with Prime Minister Liz Truss when he arrived back, making him the second-shortest serving Treasury chief in U.K. history. Truss named former Foreign Secretary Jeremy Hunt as his replacement on Friday.
Source: https://www.barrons.com/articles/uk-crisis-bonds-us-fed-51665737283?siteid=yhoof2&yptr=yahoo