Stocks will plunge, inflation will persist, and the US economy will feel more pain, Carl Icahn says. Here are his 14 best quotes from a new interview.

In a recent CNBC interview, Carl Icahn said the stock market's rally won't last and called on the Federal Reserve to keep raising interest rates.

The billionaire investor and Icahn Enterprises chairman also revealed he's betting against the S&P 500 and may have shorted cryptocurrencies in the past.

Here are Icahn's 14 best quotes, lightly edited for length and clarity:

This is the first thing. I am bearish on what will happen. I still think we're in a bear market, even though a rally like this is very dramatic to say the least.

There are two You are going to have a recession if you have higher interest rates that have moved as they have here. I believe we have a recession already.

There are three. You're going to have more of a recession because inflation is not going away for the near term. Icahn was talking about the outlook for the stock market.

There are four. I don't believe the inflation is over. It took a long time to get the inflation over with.

There are five. The Fed needs to raise more. It will be worse for the future if it doesn't happen. This inflation needs to be cured. You can't just take a magic pill and get rid of it.

There are six. There are a lot of things that need to be done to get the economy out of a recession. The blow to household wealth from stocks and home prices dropping is one of the reasons Icahn flagged.

There are seven. I'm short the S&P500. Tech stocks in the S&P are too high for most of the time. I don't think they're worth what they're being sold for.

There are eight. People called me about it and wanted me to do something about it. I was getting ready to look at it. I started to buy stock after the stock went down. I wanted to get on the board. Icahn was talking about the social networking site.

There are nine. I was happy that Musk showed up. He is a lot richer than I am. He was the perfect person to do it. He didn't need the cash. Icahn shared Musk's concern that users' freedom of speech would be restricted on the platform.

There are ten. No one called me to go in. If he called me, I would have done it. I could have put a billion dollars in it. Icahn was asked if he was invited to join Musk in his bid for the micro-messaging service.

There is a new date for the 11th. One of the dangers of our economy is this spill over. Icahn was talking about the implosion of Sam Bankman-Fried's digital-asset exchange.

I'm a good person. I tried to understand why the coin was worth so much, but I didn't know what to think. I didn't buy any of the virtual currency. I may have shorted it a couple of times.

13th You should look at these companies if you are interested incryptocurrencies. If you don't like how it's being managed, what do you do? The area is a lawless place. There was no accountability that I could see.

The 14th. I am not surprised that this happened because there are no rules. It's similar to the wild west. Icahn was talking about FTX.