Inequality is measured by relative levels of wealth. When the group with the most wealth's wealth declines relative to the group with the least, inequality declines.
Are you trying to make some kind of point that, because it hasn't declined as much as you would like it to, it hasn't declined at all? I really can't tell.
I'm not making a point about which outcome is better at all, I'm making a point that the federal reserve can't do anything about that.
When people talk about "inequality increasing" over the past several decades, what they mean is the opposite of that spectrum compressing. In 1980 there were obviously very rich people. They were just less rich, relative to the median person than they are today. The Fed is responsible for a significant chunk of that divergence. That was the point.