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Real Estate Investor Sam Zell Sees the Fed Raising Rates Close to 6%
The Fed will need to rate interest rates closer to 6% to meaningfully ease inflationary pressures, said legendary property investor Sam Zell. A “shocking event” was mortgage rates more than doubling this year, the billionaire told Fox Business. Zell also sees the US economy falling into a recession. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app There’s little comfort to be had in a recent softening in mortgage rates because the Federal Reserve is likely to continue with its string of rate hikes to catch up in taming inflation, billionaire property investor Sam Zell…