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Jim Cramer: Looming interest rate hike could offer opportunity

02:42

The Dow closed 250 points down on Thursday amid investor fears over the likelihood that the Federal Reserve will raise interest rates later this month, the first such rise in nearly a decade. Jim Cramer, host of CNBC’s “Mad Money,” has advice, including locking in your mortgage rate, considering a car loan, paring down your credit card debt, and perhaps taking the opportunity to buy stocks at fire sale prices.