Kwasi Kwarteng was named UK Chancellor of the Exchequer, responsible for the country’s public finances.
(Bloomberg) — Kwasi Kwarteng was named UK Chancellor of the Exchequer, responsible for the country’s public finances.
He faces a daunting combination of soaring inflation and faltering economic growth. The Bank of England has forecast a five-quarter recession and inflation is estimated to climb as high as 22% without intervention in the energy market.
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