示，过去三年里大多数美国人的收入不平等状况有所缓解，但这一变化对缩小长期存在的财富差距作用有限。
The Federal Reserve said income inequality fell over the last three years for most Americans, but the change did little to narrow persistent wealth disparities.
在截至2025年的三年间，低收入家庭的整体收入实现了小幅增长。而收入处于顶层的人群收入则出现下降，这部分人群的收入很大一部分来源于波动性较强的资本利得及企业经营收益。
Lower-income families overall saw modest pay gains in the three years through 2025. Incomes declined for those at the top end of the distribution, who derive a large share of their income from more volatile components such as capital gains and businesses.
报告显示，财富差距依然显著。美国人的中位净资产增长了2%，达到215,900美元；平均净资产则增长了7%，达到1,241,500美元。这种平均水平的增长差异恰恰反映出财富差距的悬殊：收入最高的10%家庭所拥有的财富平均值是收入最低的20%家庭的56倍。
The wealth gap remained wide, the report shows. Americans’ median net worth rose 2% to $215,900, while average net worth rose 7% to $1,241,500. The disproportionate average gains underline the wide wealth gap based on net worth, with the top 10% of families holding 56 times more wealth on average than the bottom 20%.
这项每三年开展一次的调查被经济学家们视为反映美国家庭经济状况最全面的数据来源，涵盖了财富、收入、债务及财务安全等方面的变化。
The triennial survey is widely regarded by economists as the most comprehensive data on the economic well-being of American households, including changes in wealth, income, debt and financial security.
这些数据有助于解释近期股市屡创新高与部分消费者信心指标却处于历史低位之间的矛盾现象。
The data help shed light on the divergence between the stock market, which in recent years has pushed to new record highs, and measures of consumer sentiment, some of which are hovering near record lows.
报告显示，2022年至2025年间，拥有股票的家庭比例从58%降至56%。在此期间，标准普尔500指数大幅上涨；美联储指出，收入处于后半段的群体“几乎导致了这一时期股市参与率的整体下降”。
The report showed a decline in the share of families who owned stocks between 2022 and 2025, to 56% from 58%. That coincided with a strong rise in the S&P 500 index, and the Fed said those in the bottom half of the income distribution “accounted for nearly all of the overall decline in participation” in the stock market over that period.
最新数据还反映出美国经济自本世纪初以来的演变趋势：美国人已逐渐花光疫情期间的储蓄，如今越来越多地依靠借贷及其他手段来维持消费水平。尽管通胀率高于工资涨幅，但消费势头依然强劲。
The new data show how the economy has evolved from earlier in the decade. Americans have spent down their pandemic savings and are now increasingly turning to debt and other methods to maintain spending, which has remained robust even as inflation outstrips wage gains.
尽管背负各类债务的家庭比例维持在77%不变，但报告指出，“背负巨额债务的家庭比例”是一个反映潜在财务困境的重要指标。数据显示，约有8.6%的家庭其债务偿还额占收入的比例超过40%，这一比例创下了2010年以来的新高。
Though the share of families with any type of debt remained stable at 77%, the report highlighted “an important indicator of potential financial distress,” the proportion of families with particularly large debt burdens. Some 8.6% of families had payment-to-income ratios greater than 40%, the largest share since 2010, according to the figures.