LONG-STANDING WEALTH GAP BETWEEN BLACKS AND WHITES REMAINS SUBSTANTIAL, FED DATA FOR 2019 SHOW. Typical white family has eight times the wealth of typical Black family.
The wealth gap between whites and Blacks in the United States stayed stubbornly wide over the three years that ended in 2019, according to the latest data from the Federal Reserve released Monday.
The typical white family has eight times the wealth of the typical Black family and five times the wealth of the typical Hispanic family, the Fed said, in its comprehensive report on consumer finances. …
The Fed survey reflected that the wealth growth rate for Black families rose at a faster pace over the past three years than it did for White families. That said, in absolute dollar terms, the faster pace of growth for Blacks is off a smaller baseline figure and as a result the span between Whites and Blacks actually widened slightly. Indeed, the median wealth between Whites and Blacks grew to $164,100 in 2019 from $163,700 in the prior survey.