9.28.20
An article by Politico states that black families average less than 15 percent of wealth of white families.
The average Black family had less than 15 percent of the wealth of white families in 2019, a trend that barely budged despite economic gains among minorities over the past three years, the Federal Reserve said on Monday.
According to a Fed survey of consumer finances conducted every three years, the median wealth of white families was $188,200, compared with only $24,100 for Black families. Central bank economists attributed that gap to “many complex societal, governmental, and individual factors that play out over the life cycle and across generations.”