Equity Group Investments Chairman and founder Sam Zell warned that the U.S. economy could face “serious problems” if the Fed doesn’t hike rates by 100-basis points within the next year. 

“The Fed has missed the opportunity to be the disciplinarian that it should be. We have to dramatically reduce the liquidity available in the market,” Zell told Maria Bartiromo on “Mornings with Maria” Thursday. 

His comments come as the Federal Reserve raised interest rates by 50-basis points Wednesday following a highly-anticipated Federal Open Market Committee meeting, the biggest move in over 20 years. 

Federal Reserve Chairman Jerome Powell also made comments about a possible recession and killing the idea of a 75-basis point hike in the near future during his press conference.

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