IOU: The US got its first downgrade from a major credit-rating agency in over a decade, which sent jitters through global markets. Fitch pegged its downgrade to the debt-ceiling drama. JPMorgan’s CEO called the move “ridiculous.”
Unpacked: The Biden admin introduced an income-driven repayment plan to lighten student-debt loads as loan payments are set to resume (psst: this fall). The SAVE plan application site went live last week.
Admart: Walmart is incorporating third-party ads in its self-checkout lanes, TV aisles, and store intercoms as its ad biz grows fast. Ads have become a big side hustle for retailers like Kroger and Target.
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