Economic Cycle Research Institute(ECRI): Disentangling Cyclical from Structural


Important presentation from the Economic Cycle Research Institute(ECRI) that reinforces many of the ideas discussed in the Third Wave Finance post entitled The Persistent Fallacy of Rising Rates:


From the Economic Cycle Research Institute(ECRI):

  • “many are making the leap that the 35-year bond bull market ended last summer. . . the problem is that they may be conflating the structural & the cyclical”
  • “we have a chilly core of structural deflation and lowflation, and a sizzling crust of rising cyclical inflation pressures”
  • Disentangling Cyclical from Structural