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Local expert discuss what interest rate increase means for Marylanders

Posted at 6:50 PM, Dec 15, 2016
and last updated 2016-12-15 18:54:28-05

The Federal Reserve increased its key interest rate by 0.25% Wednesday. 

Rising rates could affect million of Americans, including home buyers, savers and investors.

RELATED: Fed raises interest rates by 25 percent

Mary Ann Scully is the chairman, president and chief executive officer of Howard Bank. She joined ABC2's In Focus to discuss how the interest rate increase could affect Marylanders. 

See video above for full interview. 

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