Inflation will come back not because of specific policy tools like tariffs, but because of behavioral 'Animal Spirits'—when the stock market and crypto are open season for gains, 'people raise prices because they can and so they will' as a function of confidence and available opportunities.

causalpending

Speaker

Ben Hunt

Evidence Quote

when it's KY bar the door on the stock market and crypto and everything like that this is that phrase Animal Spirits right people raise prices people raise prices they they because they can and so they will [32:24]

Source

Making Sense of Markets in a Post Election World | Grant Wiliams and Ben HuntExcess Returns
Created: 8/11/2026, 7:30:05 AM

My Notes

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