The smart money is preparing for Trumpflation

The average inflation rate when Donald Trump was president was 1.9%. During Joe Biden's presidency, inflation has averaged 5.4%. Many voters think of Biden as the inflation guy. Yet some prominent investors think future inflation will be worse if Trump wins the 2024 election than if Biden wins. In a June 18 analysis, Goldman Sachs argued that investors should buy gold if they're worried about the inflationary impact of Trump's economic agenda, should he become president. "We see value in long gold positions as an inflation hedge from geopolitical shock including tariffs, Fed subordination risk, and debt fears," Goldman analysts…