Abstract: As an important tool for government to regulate economic activities, monetary policy has potential wealth distribution effects under the influence of micro-individuals endowment differences. How to understand the impact of monetary policy on wealth inequality and prevent the further expansion of residents’ wealth gap have become the focus of government and society. This paper constructs a general equilibrium model with initial wealth heterogeneity, analyzes the impact mechanism of monetary policy on wealth distribution, and discusses how to adjust monetary policy rules to improve welfare equity. The research shows that monetary policy shocks significantly increase the Gini of wealth and income, and show an obvious Matthew effect; The household income structure and marginal propensity to consume are determined by the initial wealth stock. Central bank should allow inflation and the output gap to fluctuate slightly to prevent excessive increases in the consumption gap; The Taylor rule incorporating the information of the second moment of household consumption distribution can improve the total social welfare while reducing welfare inequality.