EDURAN Spotlight
September 6, 2026. Lacy Hunt, a longtime proponent of the deflationary thesis, now views inflation as the greater risk. We analyze his argument—and explain where we disagree.
EDURAN Spotlight
Lacy Hunt, for decades the leading voice of the deflation thesis, now warns of structurally higher inflation and interest rates — driven by capital scarcity, deglobalization and runaway deficits. We put his argument in context and highlight a force we’d weigh at least as heavily: the interplay of technology and demographics.