It's straight bullshit. Their reasoning is that if the interest rate is high enough, people would not want to spend more, meaning less money in circulation and businesses would have to bring their prices down. Also, they want businesses to stop giving raises because apparently, it contributes to inflation. First, businesses will never bring their prices down once they raise them because they know that people need certain products no matter how much they cost. Secondly, Giving out raises is so bullshit because wages have remained stagnant for so long that inflation happened anyways.
The working class always gets squeezed and takes the beatings instead of closing out tax loopholes for big businesses because, in the end, it's the government and big corporations lying in bed with each other.