Low oil prices have given American consumers persist low inflation over recent years. Now that some of President Trump's policies have begun to swing into effect, it's all about to change. But, is that any reason to worry? Perhaps not, if you invest in commodities and precious metals. Trump's anti-migrant stance has already affected wage rises, but so have long overdue price rises of commodities and manufactured goods. Charles Schwab, the banking company, in its 2017 outlook put inflation at the top of its list of concerns for the bull market in stocks (domestic and international). Their concern is that rising wages will be a hit against corporate earnings.