EXPLAINER: Why was Truss’ tenure so short — and now what?

By DANICA KIRKA
Associated Press

LONDON (AP) — British Prime Minister Liz Truss took office last month with hopes and promises of reinvigorating the British economy and putting it on the path to long-term success. It didn’t go to plan. Instead, Truss’ tenure was scarred by turmoil as her economic policies threatened the country’s financial stability, driving the pound to record lows, sparking chaos on bond markets and increasing mortgage costs for millions of people. The Conservative Party says it will select a new leader and prime minister by Oct. 28. Truss will remain prime minister until then. The party is planning a quick selection process it hopes will produce a consensus candidate who can unite the party behind its tax and spending priorities.