The latest Federal Reserve meeting minutes reveal a subtle but significant shift in signals. Attending officials repeatedly mentioned a phenomenon: consumption growth among high-income households is significantly faster, while low-income groups are becoming extremely cautious—they are cutting back on spending and becoming increasingly sensitive to prices.

What does this mean? The K-shaped divergence in the economy has truly risen from "rumors" to an official policy concern within the Federal Reserve decision-making circle. It’s no longer just public complaints but a policy factor that the central bank is seriously considering.

The data is clear: the top 20% of income households already account for nearly 60% of total consumption. In other words, the engine of U.S. consumption growth is increasingly controlled by a small number of high-income groups. And the majority of ordinary households? They are lowering expectations and being forced to cut back on living costs.

Market participants should be aware of what this means for liquidity and asset prices.