U.K. Prime Minister Liz Truss ousted finance minister Kwasi Kwarteng on Friday before scrapping a key part of a controversial economic package that roiled markets.
Why it matters: Truss and Kwarteng, who was the chancellor of the Exchequer, spent an immense amount of political capital attempting to implement their tax cut plan. She is now attempting to "reassure the markets of our fiscal discipline" and salvage her premiership.
