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Black wealth is increasing, but so is the racial wealth gap
According to the latest data from the Federal Reserve’s Survey of Consumer Finances, the nation’s racial wealth gap increased during the COVID-19 pandemic.
Between 2019 and 2022, median wealth increased by $51,800, but the racial wealth gap increased by $49,950—adding up to a total difference of $240,120 in wealth between the median white household and the median Black household.
- Andre M. Perry, Hannah Stephens, and Manann Donoghoe
- Brookings
The Survey of Consumer Finances is the most comprehensive survey on household wealth in the United States.
Updated every three years, this data provides a representative outlook of our current and past economic landscapes, which is particularly helpful in capturing the…