2025年后期的美国经济显示出明显的不平等:高收入家庭驱动增长,而中低收入家庭则在工资停滞和物价上涨中挣扎。 U.S. economy in late 2025 shows stark inequality: high-income households drive growth while middle- and lower-income families struggle with stagnant wages and rising prices.

2025年后期的美国经济呈现K形分裂,高收入家庭驱动着3.5%的支出增长,而中低收入家庭面临工资停滞和物价上涨。 The U.S. economy in late 2025 shows a K-shaped split, with high-income households driving 3.5% spending growth while middle- and lower-income families face stagnant wages and rising prices. 通货膨胀率上升至2.8%(核心方案支助费用:2.9%),而个人可支配收入没有增长。 Inflation rose to 2.8% (core PCE: 2.9%), and personal disposable income saw no growth. 商业投资下降了0.3%,受到投入成本的伤害,但技术巨头的大规模AI投资 — — 今年预计为6000亿美元 — — 帮助维持了总体增长。 Business investment declined 0.3%, hurt by input costs, but massive AI investments by tech giants—projected at $600 billion this year—helped sustain overall growth. 净出口略有改善,但由于关税变动,仍然波动不定。 Net exports improved slightly but remain volatile due to shifting tariffs. 尽管特朗普声称从关税中获得经济收益,但市场现在预计2026年初的降息将减少,而且由于11月政府关闭造成数据中断,直到2026年才出现经济的全面情况。 Despite Trump’s claims of economic gains from tariffs, markets now expect fewer rate cuts in early 2026, and a full picture of the economy may not emerge until 2026 due to data disruptions from a November government shutdown.