Former investment banker Carol Roth joined Glenn Beck on the radio program to answer his latest questions regarding the economy: Are we in a recession, despite what the White House claims? At what point do the Fed’s interest rate hikes become dangerous? And how are we expected to bring down inflation when interest rates continue to climb?

No matter what the White House says, the economy is not healthy, and spending billions of dollars on the "Inflation Reduction Act" won't fix inflation. The reality is that the Fed's tools can't fix the supply and demand imbalance "unless the Fed can stop printing money and start printing oil and printing food," Carol quipped. "But they're really focused on the demand side, not the supply side. What we need to be focused on is how do we get more supply in these key areas so that we balance out that from the supply side, not the demand side," she explained.

\u201c-There will be no inflation \n-Inflation is transitory \n-Inflation is good for you\n-Inflation only hurts the rich\n-Inflation is consumers\u2019 fault\n-Inflation is greedy biz\u2019s fault\n-Inflation is Putin\u2019s fault\n-Recessions mean something else!\n-Breadlines are a great way to meet people\u201d

— Carol Roth (@Carol Roth) 1659019694

Carol emphasized that the "Inflation Reduction Act of 2022," which is now backed by West Virginia Democratic Sen. Joe Manchin, will only make things worse —and the Democrats know it.

"[Senate Majority Leader] Chuck Schumer (D-N.Y.) came out and said it, [the Inflation Reduction Act] is Green New Deal Light. This is about spending more money on their climate hoax instead of fighting inflation. He put it out there, it's in a tweet ... they're saying the quiet part out loud. They don't care; this is what they're trying to do," she added.

\u201cNarrator: we knew it wasn\u2019t about reducing inflation\u2026\u201d

— Carol Roth (@Carol Roth) 1659100143

\u201c@caroljsroth @seanzy25255 The only REDUCTION made will be to our wallets\u201d

— Carol Roth (@Carol Roth) 1659100143

\u201c@caroljsroth Oh sure, Ms. Smarty Pants, next you're going to tell us that the Affordable Care Act wasn't about making health insurance more affordable.\n\nWhy, just look at the cost data since it was implemented!!! I mean...\n\n...ummmmm...\n\n...hey, wait a second here...\u201d

— Carol Roth (@Carol Roth) 1659100143

\u201c@caroljsroth Solzhenitsyn- They lie. We know they are lying. They know we know they are lying. They lie anyway.\u201d

— Carol Roth (@Carol Roth) 1659100143

\u201c@caroljsroth @rollypoly31 I\u2019d love a little Chuck Schumer reduction.\u201d

— Carol Roth (@Carol Roth) 1659100143

"I'm calling it 'the Great Reset-sion,'" Carol said. "This is intentional. They are doing this to us on purpose."

Carol went on to explain what this all means for you and what's still to come. Watch the video clip below. Can't watch? Download the podcast here.

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.