We revisit two-field hybrid inflation as an effective field theory for low-scale inflation with sub-Planckian scalar field ranges. We focus on a prototype model by Stewart because it allows for a red spectral tilt, which still fits the current data. We describe the constraints on this model imposed by current CMB measurements. We then explore the stability of this model to quantum corrections. We find that for relevant, marginal, and at least a finite set of irrelevant operators, some additional mechanism is required to render the model stable to corrections from both quantum field theory and quantum gravity. We outline a possible mechanism by realizing the scalars as compact axions dual to massive $4$-form field strengths, and outline how natural hybrid inflation may be supported by strong dynamics in the dual theory. Comment: 40 pages, 1 figure
