Zell Says Fed Should Raise Rates by 75 Basis Points

The transcript discusses concerns about the current state of the stock and real estate markets, suggesting that the economy might be heading towards a recession. It highlights the role of liquidity in causing inflation and suggests that raising interest rates could control inflation but might also lead to a recession. The speaker reflects on historical Fed policies, particularly under Volker, and advises the current Fed to raise interest rates significantly to break the inflation mentality. The discussion includes a historical perspective on interest rates and their economic impact.

What historical example does the speaker reference regarding interest rate increases?

What impact does the speaker believe raising interest rates will have on the economy?