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Wallet Wednesday: Staying afloat with interest rate increases

PORTLAND, Ore. (KOIN) — It can be hard to stay above water during these tough economic times.

The Federal Reserve increased a key interest rate by three-quarters of a percentage point last week.

Although a small bump, it has significant implications for all your debt.

Debt Expert Mary Jo Terry joined AM Extra to tell us what this rate hike means for Oregon residents.

Watch the full video in the player above.