As investors are focusing on the Federal Reserve this week, they may want to consider that President Trump has helped interest-rate policy makers a great deal.

A key to success in investing is setting aside one’s political beliefs when reviewing facts and figures. The data are clear that Trump has conquered a huge problem that central banks including the Fed, the European Central Bank and the Bank of Japan failed to solve for years.

The problem: disinflation, and often deflation, around the world. In plain English, falling prices. Falling prices lead to economic contraction, providing fewer opportunities for people. Yet, the goal of most governments is to increase opportunities for their citizens. For this reason, most governments want some inflation — rising prices.

Let’s start by looking at two charts. (Please click here for the first chart.) The chart shows the continuously compounded rate of change for the Consumer Price Index for all urban consumers, excluding food and energy. The reason we exclude food and energy from our timing model, the adaptive ZYX Global Multi Asset Allocation Model, is because they’re volatile. They create a lot of noise and, as you can see from the diagram, we filter out the noise. (Please click here to see all 10 categories of inputs to the timing models.) The insight from the chart is that core inflation since Trump’s election has risen to a five-year high.

Read:The Fed’s on thin ice in a Trump administration

The second chart confirms the conclusion of the first chart. (Please click here for the second chart.) The chart shows the one-month London Interbank Offered Rate (LIBOR), five-year forward inflation expectation rate and 10-year Treasury constant maturity rate. All of those measures are moving higher.

Ask Nigam: Nigam Arora answers your questions about investing in stocks, ETFs, bonds, gold and silver, oil and currencies. Have a question? Send it to Nigam Arora.

To be fair, the economy and those measures were improving before Trump’s election. Trump inherited a near-perfect setup from Barack Obama. Obama and the Fed deserve credit for that. And Trump deserves credit for unleashing “animal spirits” that are conquering the big problem of disinflation and deflation.

This Trump effect is so powerful that it is being extended beyond the U.S. to Europe, Japan, China and India.

Bonds

In this environment, investors may consider not owning bonds. To protect against inflation, investors may consider inverse bond ETFs such as ProShares Short 20+ Year Treasury TBF, -0.32% and ProShares UltraShort 20+ Year Treasury TBT, -0.63% . Aggressive investors may consider short selling iShares Barclays 20+ Year Treasury Bond TLT, +0.30% .

Stocks

Major stock ETFs such as SPDR S&P 500 ETF Trust SPY, -0.88% , PowerShares QQQ Trust QQQ, -1.56% and iShares Russell 2000 Index IWM, -0.73% are moving higher in lock step with higher yields.

Gold and silver

On the one hand, gold and silver benefit from rising inflation. On the other hand, higher interest rates are negative for gold and silver. Those cross currents present trading opportunities for investors in SPDR Gold Trust GLD, -0.54% , iShares Silver Trust SLV, , VanEck Vectors Gold Miners GDX, -1.75% and VanEck Vectors Junior Gold Miners ETF GDXJ, -1.34% . Aggressive investors may consider juicing up those opportunities by using leveraged ETFs such as Direxion Daily Gold Miners Bull 3X Shares NUGT, -3.46% , Direxion Daily Gold Miners Bear 3X Shares DUST, +3.27% , Direxion Daily Junior Gold Miners Bull 3X Shares JNUG, -2.08% and Direxion Daily Junior Gold Miners Bear 3X Shares JDST, +2.56% for short-term trades.

Disclosure: Subscribers to The Arora Report may have positions in the securities mentioned in this article or may take positions at any time. All recommended positions are reviewed daily at The Arora Report.

Nigam Arora is an investor, engineer and nuclear physicist by background, has founded two Inc. 500 fastest-growing companies, is the developer of the adaptive ZYX Global Multi Asset Allocation Model and the ZYX Change Method to profit from change in trading and investing. He is the founder of The Arora Report, which publishes four newsletters. Nigam can be reached at Nigam@TheAroraReport.com.

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