This week's episode of In The City isn't for the lighthearted. Three weeks into her term, UK Prime Minister Liz Truss’s financial plans have sowed market chaos, pummeled the pound and put her political future in doubt. So how bad is it? Adam Posen, president of the Peterson Institute for International Economics, tells David Merritt and Francine Lacqua that "it's hard to imagine worse panic than what we've seen ... it's just really sad to see the UK government behaving in this irresponsible way."

Plus: The pound is on parity watch. We hear from a trader who made billions in 2008 and is now buying up sterling, and a hedge fund manager who is shorting the pound and betting against UK stocks.

And to get the latest on UK news delivered to your inbox, subscribe to The Readout with Allegra Stratton.