Central-bank digital currencies are coming—whether countries are ready or not

Central-bank digital currency” doesn’t exactly roll off the tongue. But you might want to get used to saying it. These so-called CBDCs, or digital versions of dollars, yuan, euros, yen or any other currency, are coming, say those who study them. And depending on how they are designed and rolled out, their impact on the banking system could be profound.

British Chancellor Sacked After Disastrous Tax Plan

Britain’s embattled Prime Minister Liz Truss fired her Finance Minister Kwasi Kwarteng on Friday and deleted parts of their economic package in a desperate bid to stay in power and reassure markets after financial turmoil.

US hit with 15 billion-dollar disasters this year

Hurricane Ian, which has just devastated Florida and Puerto Rico, was the 15th billion-dollar weather and climate disaster to hit the US this year so far, Axios reports. Early estimates of damage from Hurricane Ian show insured losses of $53 billion to $74 billion.

Hurricane Ian Death Toll Rises To Over 80

The death toll of Hurricane Ian past 80, while residents in the U.S. state of Florida and the Carolinas faced recovery costs expected in the tens of billions of dollars.

British Pound Plunges To Record Lows

The British pound plunged to an all-time low against the U.S. dollar Monday as investors ran for the exits after the new government’s fiscal plan threatened to stretch Britain’s finances to their limits.

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